A Framework for Developing Earned Value Management Systems (EVMS) Policy for Information Technology (IT) Projects†
- CIO Council
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Earned Value Management (EVM) is a project management control tool allowing visibility into technical, cost and schedule planning, performance and progress for major IT projects. EVM not only encourages contractors to use effective internal cost and schedule management control systems, but also provides the manager with timely and consistent cost, schedule and progress data. The implementation of an Earned Value Management System (EVMS) ensures that cost, schedule, and technical aspects of the contract are truly integrated and estimated, and actual progress of the project can be identified. OMB requires the use of an EVMS compliant with the guidelines in ANSI/EIA Standard 748 for all major IT investments with development work.
The purpose of this document is to demonstrate a model EVMS framework for the development of agency EVM policy. It is not intended to be all- inclusive, but rather to provide key components as determined through review of existing EVM policies, to assist agencies in developing their EVM policies as required by OMB Memorandum M-05-23. Per OMB Memorandum M-05-23, agencies are to develop such policies no later than December 31, 2005.
The intended audience for this document is agency staff responsible for development of agency EVM policy.