Which of the following are true about Earned Value Management (EVM)? (Select all that apply)

Question

BlackTom AI · Accepted Answer

The question asks which statements about Earned Value Management (EVM) are true, and it is a multiple-answer format.
Option 1: 'It only focuses on time-based project performance.' This is not accurate because EVM integrates cost and schedule performance (through earned value, planned value, and actual cost) and also provides insight into cost performance indices. By concentrating on both cost and schedule, it does more than just time-based assessment, so this statement is incorrect.
Option 2: 'It provides an early warning system for cost overruns.' This is true. EVM enables you to compare earned value with actual costs and planned value, producing variances and performance indices that can signal potential cost overruns early in the project lifecycle, allowing proactive management. Hence, this option is correct.
Option 3: 'It is only applicable to software projects.' This claim is false. EVM is a general project management technique that is applicable across many industries and types of projects, not limited to software. Therefore, this option is incorrect.
Option 4: 'It is a quantitative technique, minimizing bias.' This is true in the sense that EVM relies on objective, numerical data (BCWP, ACWP, PV) to measure performance, reducing subjective storytelling. While data quality and measurement discipline matter, the method itself emphasizes quantitative assessment and aims to minimize bias relative to qualitative judgments. Thus, this option is correct.

Which of the following are true about Earned Value Management (EVM)? (Select all that apply)Multiple choice

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