Earned value
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Earned value (also known by its acronym, EV) is the measure of work performed expressed in terms of the budget authorized for that work.
Definitions
According to the PMI Lexicon of Project Management Terms,
- Earned Value (EV). The measure of work performed expressed in terms of the budget authorized for that work. See also actual cost (AC), budget at completion, estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).
