What is the earned value of a project?

This video introduces you to the concept of earned value, showing a graph that combines the budget costs, the actual costs and the earned value.

Earned value is the budget cost of the activities that have actually been performed in a project at a certain date.

The difference between the earned value and the budget costs of the work planned is called the schedule variance. The difference between the earned value and the actual costs at a certain date is called the cost variance.

In the next step, you’ll look at how you can perform an earned value analysis.

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This video is from the free online course:

Business Fundamentals: Project Management

The Open University