ISO 21508:2018

ISO 21508:2018 Earned Value Management

The International Organization for Standardization (ISO) recently published ISO 21508:2018 Earned Value Management in Project and Program Management. The ISO standard describes the 11 process steps required to implement EVMS.

If your organization has a requirement for EVMS certification, currently ISO is the best route.

This standard provides:

  • Terms and definitions

  • Descriptions of the purpose and benefits of earned value management

  • The integration and relationship with project or program management

  • An overview of the processes and process descriptions

  • Basic requirements for an earned value management system; and

  • Use of an earned value management system (EVMS).

However, it does not provide guidance on the use of specific processes, methods or tools in the practice of an EVMS. The annexes describe examples of:

  • Cost

  • Schedule and performance analysis,

  • Commonly used formulas with associated interpretations, and

  • The integration of earned value with other project or program management processes.

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