Delays and overruns are known to escalate quickly in EPC projects. Earned Value Analysis (EVA) offers a proven framework for measuring performance, but its success depends on accurate, real-time data. This is where cost management software comes into the picture, bringing together labour, cost, schedule, and progress data to enable informed forecasting and confident decision-making. In this post, I’ll be discussing how Mpower Project Controls & Cost Management Software supports EVA, helping EPC teams stay in control of cost and schedule performance.
Earned Value Analysis (EVA) is a project management technique used to assess performance by comparing planned work, actual progress, and costs. It relies on three core metrics:
These metrics help project managers evaluate cost and schedule efficiency, identify variances, and forecast future performance.
"Earned Value Analysis (EVA) is a method that allows the project manager to measure the amount of work actually performed on a project beyond the basic review of cost and schedule reports."
- PMI (Project Management Institute)
EVA is used widely across industries to support cost control, schedule tracking, and stakeholder reporting. It provides a structured, data-driven approach to understanding whether a project is truly on track; not just in terms of budget spent or time elapsed, but in terms of actual value delivered.
In Engineering, Procurement, and Construction (EPC) projects, EVA is a strategic control tool. In projects that involve multiple contractors, complex schedules, and large budgets, it’s often difficult to track progress and cost in isolation. EVA integrates scope, schedule, and cost into a single framework.
By comparing planned progress with actual performance and costs, EVA helps project teams:
EVA is essential for managing risk, maintaining stakeholder confidence, and ensuring that high-value EPC projects stay on track.
To get the most out of Earned Value Analysis, EPC teams need reliable, structured data. This is where cost management software becomes essential. The right platform brings together all the moving parts of a project—labour, cost, schedule, and progress—into one consistent framework.
Key capabilities should include:
Together, these features provide the foundation for accurate forecasting and proactive decision-making.
EPC projects demand precise data, and Mpower is built to deliver it. By integrating all critical project data (labour hours, cost and revenue profiles, progress tracking, procurement, and invoicing), Mpower ensures that Earned Value Analysis is possible.
Where EVA often struggles due to fragmented data and inconsistent coding, Mpower enforces structured, consistent coding across all project elements. This alignment allows seamless tracking of Planned Value, Earned Value, and Actual Cost, giving project teams a clear view of performance at every stage.
Mpower supports best-in-class EVA practices by offering:
With all this data unified in one platform, Mpower lets you forecast with confidence, respond to risks proactively, and maintain control over schedule and budget.
Earned Value Analysis is essential for managing cost and schedule performance in EPC projects, but its effectiveness depends on structured, real-time data. Mpower aligns labour, cost, progress, and commercial data within a single platform, supporting EVA best practices. Download the Mpower brochure now to explore more ways it can strengthen your project controls.