Hello everyone, in this module, we will build on what we
discussed before, related to the earned value method.
And to take it further up,
as I mentioned since the EVM is the most common used
cost control method in our construction projects,
and I want to emphasize more on an example and
what's exactly what we mean from a definition and objectives.
That been said, let's go to defining earned value method.
As a definition, earned value method is a way to
calculate the work of progress on a project
using a work account based breakdown system.
In matter of fact, this method started to
be implemented by government agencies
first here in the US in the early 70s.
And it used and implemented to help
control both the costs as well as
the schedule of complex projects.
It was called in the beginning,
the Cost/Schedule Control Systemic Criteria or C/SCSC.
Then some private owners, I think it was in the power sector,
started using very similar systems as a means to
report back to the government as their clients.