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EIA748C - Earned Value Management Systems
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Earned Value Management Systems
An Earned Value Management System (EVMS) for integrated program management will effectively integrate the work scope of a program with the schedule and cost elements for optimum program planning and control. The primary purpose of the system is to support integrated program management. The system is owned by the organization and is governed by the organization's policies and procedures. The principle of an EVMS are: Plan all work scope for the program to completion; Break down the program work scope into finite pieces that are assigned to a responsible person or organization for control of technical, schedule and cost objectives; Integrate program work scope, schedule, and cost objectives into a performance measurement baseline plan against which accomplishments are measured. Control changes to the baseline; Use actual costs incurred and recorded in accomplishing the work performed; Objectively assess accomplishments at the work performance level; Analyze significant variances from the plan, forecast impacts, and prepare an estimate at completion based on performance to date and the remaining work to be performed; Use the EVMS information in the organization's management processes.
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