EVM or EMV – it’s the same thing, only different

Home The Savvy PM Blog EVM or EMV – it’s the same thing, only different


170 A sign like this is a warning to slow down…you are about to drive through a curve.  On the PMP® or CAPM® exams, you’ll encounter some sharp curves in the road.  I guarantee it!  There will be times when you’ll see a familiar term or topic, and you’ll want to speed through the question faster than you should.  When you detect a potential twist in the exam question, slow down; proceed with caution.

Here’s a curve I want you to be prepared to navigate.  You may see the abbreviations EVM or EMV on the exam.  Be sure you can differentiate between the two abbreviations.  For example, a question may ask:

Which of the following techniques is more likely to be used by the team while carrying out the process of quantitative risk analysis?

Let’s say EVM and EMV are sprinkled in as 2 of the 4 choices.  These 2 abbreviations appear so similar; it’s like the same thing, only different.  (Did Yogi Berra say that??  Hmmm…he may have.  Yogi said a lot of funny things.)

So, which one is correct…EVM or EMV?  Remember that EVM refers to Earned Value Management.  You read about EVM in Cost Management, especially the Control Costs process.

On the other hand, switch 2 letters and you have EMV or Expected Monetary Value.  This EMV analysis is often used along with decision tree analysis to help determine the cost of a negative risk (threat) or the benefit of a positive risk (opportunity).  Our question asked about quantitative risk analysis.  EMV is a technique that may be used in this process; EVM is not.

Be ready for the curves caused by abbreviations, especially those that are so close like EVM and EMV.  Be sure you can keep them straight.  After all, they appear to be the same thing, only different.