Earned Value Management Matrix

The Earned Value Management (EVM) Matrix is a 2x2 matrix used to measure the performance of a project or program. It is used to compare the planned value of a project to the actual value of the project and the earned value of the project.

At a very high level, the Earned Value Management Matrix is used in the context of business, finance.

Earned Value Management Matrix quadrant descriptions, including examples
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What is the Earned Value Management Matrix?

A visual explanation is shown in the image above. The Earned Value Management Matrix can be described as a matrix with the following quadrants:

  1. Planned Value (PV): The Planned Value (PV) quadrant shows the planned value of the project, which is the total cost of the project as planned.
  2. Actual Cost (AC): The Actual Cost (AC) quadrant shows the actual cost of the project, which is the total cost of the project as it is currently being executed.
  3. Earned Value (EV): The Earned Value (EV) quadrant shows the earned value of the project, which is the total value of the project that has been completed.
  4. Variance (V): The Variance (V) quadrant shows the variance between the planned value, actual cost, and earned value of the project.

What is the purpose of the Earned Value Management Matrix?

The Earned Value Management (EVM) Matrix is a 2x2 matrix used to measure the performance of a project or program. It is used to compare the planned value of a project to the actual value of the project and the earned value of the project. The EVM Matrix is used to assess the progress of a project and to identify areas of improvement or areas of concern.

The EVM Matrix is divided into four quadrants. The top-left quadrant is the Planned Value (PV) quadrant. This quadrant shows the planned value of the project, which is the total cost of the project as planned. The top-right quadrant is the Actual Cost (AC) quadrant. This quadrant shows the actual cost of the project, which is the total cost of the project as it is currently being executed. The bottom-left quadrant is the Earned Value (EV) quadrant. This quadrant shows the earned value of the project, which is the total value of the project that has been completed. The bottom-right quadrant is the Variance (V) quadrant. This quadrant shows the variance between the planned value, actual cost, and earned value of the project.

The EVM Matrix can be used to identify areas of improvement or areas of concern in a project. If the variance between the planned value and the actual cost is high, then this could indicate that the project is over budget. If the variance between the actual cost and the earned value is high, then this could indicate that the project is behind schedule. The EVM Matrix can also be used to identify areas of improvement or areas of concern in a project's performance.


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What templates are related to Earned Value Management Matrix?

The following templates can also be categorized as business, finance and are therefore related to Earned Value Management Matrix: Effort Impact Matrix, Gap Analysis Matrix, Growth Share Matrix, Kraljic Matrix, Outsourcing Matrix, Quadrant Analysis, Risk Analysis Matrix, Risk Value Matrix. You can browse them using the menu above.

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