Earned Value is a technique that allows a project manager to monitor the 'value' of the project efforts with regards to its:

• Planned value
• Earned value
• Actual cost

This allows the project manager to determine if the project is on track or not, as earned value tells the project manager how much of the project's budget and time should have been 'spent' in achieving the work completed to date.

Given what you have learned about earned value in this course, which of the following statements (more than one are correct) are a valid interpretation of the following graph?

Planning Phase Execution Phase Closing Phi Progress (In $ amount) Planned Value (PV) Earned Value (EV) Actual Costs (AC)