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The criteria for earned value management, or EVM-a technique for measuring project progress in an objective manner-were developed for major systems acquisitions. They tend to be overly prescriptive for smaller projects, which discourages many organizations and individuals from adopting them. Now, however, organizations and individuals can adopt a formula-often called earned value lite-that distills the formal criteria of earned value management into 10 fundamental steps that constitute a simplified form of EVM.
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