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Earned value management
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=== With EVM === Consider the same project, except this time the project plan includes pre-defined methods of quantifying the accomplishment of work. At the end of each week, the [[project manager]] identifies every detailed element of work that has been completed, and sums the EV for each of these completed elements. Earned value may be accumulated monthly, weekly, or as progress is made. The Value of Work Done (VOWD) is mainly used in Oil & Gas and is similar to the Actual Cost in EVM.
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