Earned Value Management
Earned Value Management (EVM) is a program management technique that integrates technical performance requirements and resource planning with schedules, while taking risk into consideration.
The major objectives of applying earned value to a contract are to encourage contractors to use effective internal technical, cost, and schedule management control systems, and to permit the customer to rely on timely data produced by those systems for better management insight.
This data is in turn used for determining product-oriented contract status and projecting future performance based on trends to date. In addition, EVM allows better and more effective management decision making to minimize adverse impacts to the project.
The NASA Earned Value Management Focal Point Working Group (FPWG) was established to ensure that there is agency-wide representation in EVM implementation. Chaired by the NASA Office of the Chief Engineer, the FPWG provides the basis for developing an integrated, consistent approach for implementing EVM throughout NASA.
In addition, the FPWG provides an open forum for the Center Focal Points to share their experiences and to develop a network of support within the NASA EVM community. The FPWG is responsible for developing implementation procedures, as well as addressing EVM implementation, and review/surveillance issues and activities.
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