Earned Value Management has been around for over 50 years; employed by organisations that deal with major projects to help track and monitor project status. Earned value helps a business manage the complexity of monitoring the right metrics to measure project success when reporting on project progress. However it doesn’t take into account the quality element.
Performance Based Earned Value builds upon the strengths that Earned Value has created to enhance the reporting on complex projects. It combines the traditional earned value metrics with technical performance and quality measures that allows the reporting to also capture the quality gap.