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1) Accurate monitoring Time, and Cost variances within the scope development.
2) Identify and analysis the current project performance
3) Clear view of the performance improvement within the project history
4) Forecasting the future at complete status according to the current performance.
5) Identify the required corrective/Recovery action
6) Tool for the stakeholders communication
Summary - Performance Measurement, analysis, and forecasting "Management With Light On"
There are many objectives to use the EVM tools, below are few of benefits from them:
1. Improves the planning process;
2. Fosters a clear definition of the work scope;
3. Establishes clear responsibility for work effort;
4. Integrates technical, schedule, and cost performance;
5. Provides early warning and analysis of potential Earned Value problems;
6. Identifies problem areas for immediate and proactive management attention;
7. Enables more accurate reporting of cost and schedule impacts of known problems;
8. Enhances the ability to assess and integrate technical, schedule, cost, systems analysis, and risk factors;
9. Provides consistent and clear communication of progress at all management levels; and
10. Improves project visibility and accountability.
