The earned value management elements that affects the scheduling and controlling any projects are as followings:
Budgeted Cost of work scheduled which is a time phased budget baseline.
Actual cost spend at a given status date.
Time and cost performance measures to express the current time performance of the project, showing the current status of the project is ahead / lagging behind schedule as well as the current time performance of the project showcases whether the project is blow budget, on budget or above budget.
Forecasting measures is another element in which the project time and cost performance measures are assumed to be the representative indication of the future project performance which in turn will help the project management team to forecast the final project duration and cost
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