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Earned value is a management technique that relates resource planning to schedules and to technical cost and schedule requirements. All work is planned, budgeted, and scheduled in time-phased ''planned value'' increments constituting a cost and schedule measurement baseline. There are two major objectives of an earned value system: to encourage contractors to use effective internal cost and schedule management control systems; and to permit the customer to be able to rely on timely data produced by those systems for determining product-oriented contract status. EVA is an acronym for Earned Value Analysis. It is a method of using the value of the work already completed on the project to indicate what will be the actual schedule and cost figures at the completion of the project... |
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