Book excerpt: Earned Value Project Management (EVPM) is a methodology used to measure and communicate the real physical progress of a project taking into account the work completed, the time taken and the costs incurred to complete that work. As a result, EVPM allows more educated and effective management decision-making, which helps evaluate and control project risk by measuring project progress in monetary terms. In the first two editions of Earned Value Project Management, Quentin W. Fleming and Joel M. Koppelman provided guidance for project management practitioners already familiar with EVPM, was well as those who were new to the use of this technique. The third edition expanded the information available on of EVPM for medium and smaller projects while still being relevant for larger projects. An important addition to Earned Value Project Management &– Fourth Edition is the discussion of the two perceptions of the EVM concept. Both are valid, but one is better suited to the management of major projects while the other appropriate for use on all projects. The authors cover both perceptions in this book, with a bias in favor of simple, broad-based EVM for use on all projects.