Earned Value Management (EVM) is a project management technique that combines the measurement of physical progress, cost, and schedule performance to determine the actual performance of a project and forecast its future performance. It is used to measure the progress of a project, identify any potential issues, and make adjustments as necessary to keep the project on track and within budget. EVM provides a consistent and reliable method for measuring project performance and progress and is commonly used in government and defense projects, as well as large-scale construction and engineering projects.