This very accurate, clear description of what constitutes Earned Value Management, as applied to project, program, and project portfolio management, will be of great interest and use to any person who is not yet familiar with this powerful method of evaluating and managing progress during project implementation. The unique concepts and excellent graphics convey a sound understanding of the underlying principles of Earned Value Management in a way that makes them immediately understandable to the reader. I highly recommend this document to anyone who wants to begin using this management method, that is so widely applied and required by governmental and industrial organizations in every developed country in the world. Russell D. Archibald PhD (Hon), MSc, PMI Fellow, Honorary Fellow APM/PMI, PMI, PMI member No. 6