What does "EVM" stand for? Extra Value Materials—premium quality raw materials at the project site. Enterprise Vacation Matrix—A chart indicating team members planned vacation absences Early Vision Management—An technique used in early project planning meetings for activities that set expectations to highlight and avoid "scope creep." Earned Value Management–a technique for measuring project progress objectively. External Variance Measurement—identifying the degree to which project time and cost variances were due to forces and issues uncontrollable by the project manager.