Earned value management, also known as EVM, is a method that may be used to evaluate the success and development of a project. During the lifecycle of a project, it is a tool that assists project managers in making decisions that are well informed. There is not just one formula that project managers can use to determine how far along their projects are. Quite frequently, such measurements fall under the category of the subjective approach to establish the percentage of completion for each project task when there are no ground rules.
The negative aspect is that each person will view success in a unique way and will often be motivated by incentives that are in direct opposition to one another. Because of this, it is essential to make use of a method that has been well explored, examined, and validated.