RE: earned value
Hi Irfan,
Thank you for your question and welcome to the forum.
Earned value is used to show a measure of the cost of work performed up to the status or current date. Earned value uses your original cost estimates saved with a baseline and your actual work to date to show whether the actual costs incurred are on budget.
Please use the link below to investigate it in some more depth.
http://office.microsoft.com/en-us/project-help/analyze-project-performance-with-earned-value-analysis-HA101819808.aspx #_Toc269391356
I hope this answers your questions.
Regards
Simon