Watch the short video: Earned Value Management (#1) for PMP Exam Prep with Aileen below on Earned Value:https://www.youtube.com/watch?v=U313VMm2r7Q

Explain the concept of Earned Value Management, discussing how you would analyse your schedules and budgets using the Earned Value Analysis approach in order to ensure that your project remains on track. In what ways would you say Earned Value analysis gives a clearer picture of project schedule and cost status than simply analyzing planned budget versus actual expenditure. Provide concrete examples to support your response.