What is Earned Value Management (EVM)?

Earned value management is a technique to find out whether the project is executing according to the schedule and within the budget. Earned Value means the ACTUAL amount of work being executed at site. So, this ACTUAL amount of work executed is compared with the PLANNED amount of work and then give suggestions accordingly, how much it is lagging or is it as per the plan. Schedule performance index is used to check project performance in terms of schedule and Cost performance index is used to analyse cost performance.