A new Australian standard for Project Performance Measurement Using Earned Value has potential application world-wide. Earned Value is a primary project management tool that provides very accurate project performance data in terms of current status as well as forecasts of future performance by integrating the scope, schedule, and cost parameters of a project. According to Standards Australia's Director of Business Standards, Mr Mark Bezzina: "The acknowledged benefits of an Earned Value Management System [EVMS] is that it provides objective measurement of project performance in both cost and time from both the past and future perspective. The approach provides common metrics that allow for a comparison of project performance amongst and between various organisations and projects. The metrics and associated graphic depictions are consistent and easy to understand at all management levels."
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