Explain Earned Value Management (EVM) for project control.

EVM integrates scope, schedule, and cost for performance measurement. Key metrics: Planned Value (PV) - budgeted cost of planned work, Earned Value (EV) - budgeted cost of completed work, Actual Cost (AC) - actual cost incurred. Variances: Schedule Variance (SV) = EV - PV (negative = behind schedule), Cost Variance (CV) = EV - AC (negative = over budget). Performance indices: SPI = EV/PV, CPI = EV/AC. Estimate at Completion (EAC) forecasts final cost. EVM provides early warning of problems and enables proactive corrective action.