Earned Value Report Template (EVM)

Earned Value Report: [Project name], period [YYYY-MM]

Earned value report: the periodic report that compares the work planned, the work actually accomplished and the cost actually spent against one integrated scope, schedule and cost baseline. It gives the cost and schedule variances, the cost and schedule performance indices (CPI and SPI), a range of estimates at completion (EAC) with the to-complete performance index (TCPI) as a realism check, an S-curve, variance explanations with corrective actions, and the decisions the sponsor or customer is asked to take. The content follows the earned value guidance of ISO 21508:2026 (Earned value management) and the EVMS guidelines of SAE EIA-748 (Revision E, February 2026), with formulas as published in the public GAO Cost Estimating and Assessment Guide (GAO-20-195G). Replace every [bracketed] value and every row marked Example. Contract clauses quoted as examples are not legal advice; check the current official text and your contract.

Document control

Approvals

Revision history

Contents

1. Reporting basis
2. Executive summary
3. Baseline, budget and reserves
4. Cumulative performance
5. Period and trend performance
6. Control account analysis
7. Variance analysis and corrective actions
8. Schedule analysis
9. Estimate at completion
10. Risks, issues and reserve use
11. Data quality and system checks
12. Decisions requested
13. Glossary and formulas
14. References

1. Reporting basis

This report measures performance for the period stated in Document control against the performance measurement baseline (PMB) named there. All values are in [EUR thousands], cumulative from project start unless the column says "period". Actual cost comes from the [general ledger and committed cost accruals] at the status date; earned value comes from status reported by control account managers and reviewed by project controls.

1.1 Earned value techniques

Keep level of effort small. Because LOE earns exactly what was planned, it always shows a schedule variance of zero and dilutes the real signal from discrete work. GAO-20-195G treats more than 15% of budget as level of effort as a trigger for scrutiny, not a hard limit; set your own threshold here: [15]%.

1.2 Variance thresholds

Thresholds come from the project management plan (project/project-management-plan) or the contract. Index thresholds alone hide large absolute variances on big control accounts, so use both a ratio and an amount.

2. Executive summary

Example narrative: The project has earned 1,110 of the 1,280 it planned to earn by month 6 and spent 1,250 to do so. Almost two thirds of both variances sit in the conveyor control account (CA-02), where a late motor delivery idled the installation crew for three weeks. The team's bottom-up estimate at completion is 2,590, which needs future cost efficiency of 0.963 against 0.888 achieved so far, so the steering committee is asked in section 12 to note a likely overrun of 140 to 320 (up to 525 under the composite CPI x SPI method) and to approve a recovery plan for CA-02.

3. Baseline, budget and reserves

3.1 Baseline changes in the period

Example: after BCR-004 the management reserve shown above (150) is the balance after the transfer; the BAC of 2,400 already includes the 30 moved into CA-01. Retroactive changes to budget for work already performed are not allowed except to correct errors, and each correction is listed here with its reason. Changes go through project/change-control.

4. Cumulative performance

The lines are, from top to bottom at month 6: PV 1,280, AC 1,250 and EV 1,110. AC above EV means the work done cost more than its budget; EV below PV means less work was done than planned. The full baseline curve continues to month 12 at 1,560, 1,810, 2,030, 2,210, 2,330 and 2,400.

5. Period and trend performance

Example reading: the period CPI has stayed between 0.87 and 0.90 since month 2. GAO-20-195G reports studies showing that once programmes are about 15% complete, performance indicators can predict the final outcome and trends are hard to reverse, so a recovery to 1.0 on the remaining work would be unusual and needs a specific, funded cause. The three-month average CPI (months 4 to 6) is 0.877.

6. Control account analysis

CA-02 holds 59% of the schedule variance (100 of 170) and 64% of the cost variance (90 of 140). CA-04 is mostly level of effort, so its schedule variance comes from its small discrete part (training material not yet accepted).

7. Variance analysis and corrective actions

Track every action from earlier reports until closed:

8. Schedule analysis

8.1 Earned schedule

Earned schedule (ES) is the point in time at which the baseline planned to earn the value that has actually been earned. It is found on the PV curve and gives schedule measures in time units that stay meaningful until the end.

The time-based forecast is a statistical signal, not the schedule forecast. Compare it with the critical path forecast from the integrated schedule (project/project-schedule) and explain any gap.

8.2 Critical path and milestones

For a probabilistic view of the forecast finish and the confidence of meeting the go-live date, run a schedule risk analysis (project/schedule-risk-analysis).

9. Estimate at completion

9.1 Selected EAC and realism check

Example conclusion: the bottom-up EAC of 2,590 is only reachable if the CA-02 recovery plan works and the CA-03 interface change is funded through change control. The analyst recommends planning funding to the cumulative CPI EAC of 2,703 and reviewing again after month 7.

10. Risks, issues and reserve use

The full risk log lives in project/raid-log.

11. Data quality and system checks

11.1 System guideline coverage

Where the contract or organisation requires an earned value management system (EVMS) that complies with SAE EIA-748, the guideline groups in Revision D (January 2019) were: organisation; planning, scheduling and budgeting; accounting considerations; analysis and management reports; and revisions and data maintenance (32 guidelines in total). Check the structure of the current Revision E (February 2026) in your licensed copy. Use the table to show where this report draws its evidence from.

Example of a contractual requirement (United States federal defence contracts): DFARS clause 252.234-7002, Earned Value Management System (version dated JAN 2025), requires a system that complies with the EIA-748 guidelines and, for contracts at or above USD 50 million, a system the cognizant federal agency has determined to be acceptable. FAR 34.201 requires earned value reporting at least monthly on contracts where an EVMS applies. EU and UK public bodies and private customers set their own requirements by contract. This is not legal advice; check the current official text and your contract with a qualified professional.

12. Decisions requested

Escalate a forecast breach of the agreed tolerance through an exception report (project/exception-report) rather than waiting for the next periodic report.

13. Glossary and formulas

14. References

Standard and licence note

Structure aligned with ISO 21508:2026, Project, programme and portfolio management: Earned value management (second edition, published February 2026, replacing ISO 21508:2018), with ISO 21512:2024 (earned value management implementation guidance, amended in 2026) and with SAE EIA-748, Earned Value Management Systems, Revision E (revised 17 February 2026; Revision D was dated January 2019). These are copyrighted publications: this template cites their names, editions and public scope only, is original text written for this collection, and reproduces no text, tables or figures from them. The guideline group names in section 11.1 come from earlier public descriptions of Revision D. Formulas and the TCPI rule of thumb follow the public US Government Accountability Office Cost Estimating and Assessment Guide (GAO-20-195G, March 2020). The DFARS and FAR references are dated examples, not legal advice. Check the current editions and official texts before relying on them.

Official text: ISO, purchase or licensed access: https://www.iso.org/standard/87899.html (ISO 21508:2026) and https://www.iso.org/standard/63584.html (ISO 21512:2024), also from national standards bodies. SAE International, purchase or licensed access: https://saemobilus.sae.org/standards/eia748e-earned-value-management-systems. GAO guide (free): https://www.gao.gov/products/gao-20-195g.

Template licence: MIT.