Steps to Implementing & Using EVM

1. start with small project to learn
2. Stick to the basics and use spreadsheets and
other standard desktop software that you currently have in place for capturing data
3. keep it simple with using industry terminology such as EV, PV, and AC in place of BCWP, BCWS, and ACWP
4. Use basic:
a. Cost Variance
b Schedule Variance (Use in conjunction with Critical Path Method)
c. Estimate at Completion
d. Estimate to Complete
e. Cost/Schedule Performance Index
f. Cost Variance %
g. % Spent
h. % Complete

5. Use it in the report with business language instead of EVM jargon
6. Make your “Accounting Period” your “Reporting
Period”

source: http://www.linkedin.com/newsArticle?viewDiscussion=&articleID=86774198&gid=37275&trk=EML_anet_nws_c_ttle-d7hOon0JumNFomgJt7dBpSBA