Earned Value Management (EVM) software helps companies track the performance of complex and high-cost projects. This software establishes a performance baseline, which is then used to assess the earned value—essentially, the business value generated by the project. EVM is primarily used by project managers and project management officers, but it can also benefit any decision-makers involved in the project. Although EVM software is most beneficial for large organizations, some solutions are also suitable for smaller businesses. It's important to note that EVM software should not be confused with general project management tools. EVM focuses on measuring project performance and cannot be used for managing day-to-day tasks or allocating project resources. Some project and portfolio management software packages include EVM features, but EVM functionality specifically focuses on tracking project performance. Additionally, while EVM incorporates project cost management, the reverse is not always the case.
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