Answer:
The real budgeted value of the work that has actually been performed to date.
Explanation:
Earned value refers to the three primary project success metrics: cost, schedule, and performance. It measures the actual work performed against its budget and schedule. Did the actual work performed corresponds to its work budget and was it performed on time following the schedule? Earned value represents how much of the project's budget has been performed to date, both in monetary and productive terms.
