What is your understanding of Earned Value Analysis (EVA)?

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Earned Value Analysis (EVA) is a project management technique used to measure project performance and progress by comparing planned work with actual work completed.

EVA integrates scope, schedule, and cost to provide a comprehensive view of project performance.
Key EVA metrics include Planned Value (PV), Earned Value (EV), and Actual Cost (AC).
EVA helps in forecasting project outcomes, identifying variances, and making data-driven decisions to keep the project on track.
Example: If a project has a PV of $100,000, EV of $80,000, and AC of $90,000, it indicates that the project is behind schedule and over budget.
EVA calculations involve formulas such as Cost Performance Index (CPI) and Schedule Performance Index (SPI) to assess project efficiency and progress.

What is your understanding of Earned Value Analysis (EVA)?

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