1. Earned value management (EVM) is a commonly used:

   		Method of measuring the amount of money that has been spent on the project to date.
   		Analysis of the value of the equipment that has been installed in the project as of the status date.
   		Method of performance measurement for projects.
   		Analysis of the sum of the labour costs that have been incurred on the project to date.

2. In earned value management, the cost variance is equal to:

   		EV minus PV.
   		PV minus EV.
   		EV minus AC.
   		AC minus EV.