ABSTRACT
Formal definitions include:
Earned Value: ‘A generic performance measurement term for the concept of representing physical work accomplished in terms of financial worth accrued’. Project Management Body of Knowledge (PMBOK).
Earned Value: ‘The value of useful work done at any given point in a project.’
Earned Value Analysis: ‘Technique for assessing whether the earned value in relation to the amount of work completed is ahead, on, or behind plan.’ BS 6079:2
