Earned Value Management

Earned Value Management (EVM) is a project management technique that brings together measurements of cost, work and schedule performance within a single methodology. By tracking these three areas of project management in constant relationship to each other — and against the plan for completing the project on time and within budget — EVM can identify actual and potential problems early. As a result, EVM can prevent problems from escalating out of control, and also can forecast how well a project will perform in the future.

The implementation of an EVM system (EVMS) demands rigorous discipline, standardization and focus. Its benefits include better baselining — which prevents cost overruns and project creep — as well as the ability to deliver within scope, schedule and budget on large, complex, multiyear contracts.

In September 2004, CSC’s EVMS was recognized as conformant with the ANSI 748 standard, as required by the U.S. Defense Contract Management Agency (DCMA).

Two major CSC contracts — IRS PRIME and the Aegis Program — have implemented EVMS fully, with surveillance audits conducted every 24 months to measure compliance.

In addition, CSC used EVMS project management and tracking tools in conjunction with other methodologies such as CSC Catalyst, CMMI and Lean/Six Sigma.