Earned value refers to the amount of work that has been completed within a project to date. In earned value management (EVM), this earned value is compared to the original budget and schedule in order to measure project performance, estimate future costs, and predict the project completion date.
The earned value management macros are divided into two sets. The first set is used to analyze schedule and cost data and to derive earned value metrics. The second set is used to graphically represent the results from the first set. For details, see Chapter 11, The Earned Value Management Macros.