Definition
Earned Value Management (EVM) is a quantitative technique used to measure construction project performance against the project baseline. By comparing the Planned Value (what the work should cost), Actual Cost (what was actually spent), and Earned Value (the quantified progress), EVM provides strict visibility into schedule and cost variances.
Practical Example
A project was planned to complete 50% of the brickwork by month 3 for $50k (Planned Value). By month 3, only 40% of the work is complete (Earned Value = $40k), but $60k has been spent (Actual Cost). EVM analysis reveals the project is both behind schedule and over budget.
Application in Superwise
Superwise offers an automated EVM dashboard. It pulls real-time actual costs from approved Purchase Bills and RA Bills, and compares them against the progress reported in the Daily Progress Reports (DPR). This eliminates manual Excel crunching and gives developers instant alerts if a project starts bleeding cash.
Related Feature
Learn how Superwise handles this in our dedicated feature:
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