Many project managers employ an earned value system to monitor their projects. In Project Management: The Managerial Process, Larson and Gray $(2017)$ define the earned value of a project as $$the percent complete times its original budget. Stated differently, EV is the percent of the original budget that has been earned by actual work completed$$ Earned value analysis determines if you are getting value for the work completed and the money spent during a specific time frame.