PMP in 21 Days | Based on PMBOK 6

I’ve been taking many workshops and get a feeling that  people just fear EVM as a topic. I do understand that there are many technical terms, however if you have been managing projects and is slightly aware of the overall concepts then this should be a piece of cake :) To understand and know EVM, let’s first try and understand as why is EVM so important? How does it help? What is EVM (Earned value management): As per Guide to PMBOK®: Earned value management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress. EVM help understand project progress wrt project Schedule and project cost. EVM terms (If you understand them – you will have no problem understanding EVM) So lets start: BAC: Budget at Completion. It simply is the overall budget or cost baseline, which is approved for your project. There is no formula. This is arrived or allocated to you. PV: Planned Valu...