A method that measures both schedule and cost performance together to accurately predict how a project will finish.
Earned value (EV) is a project performance measurement technique that integrates scope, schedule, and cost data to objectively assess project progress and forecast final performance. Key metrics include Budgeted Cost of Work Performed (BCWP), Budgeted Cost of Work Scheduled (BCWS), and Actual Cost of Work Performed (ACWP). Schedule Performance Index (SPI) and Cost Performance Index (CPI) indicate whether the project is ahead or behind in schedule and under or over budget.
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