Which of the following is NOT a component of Earned Value Management?

The correct answer is the option representing projected revenue. Earned Value Management (EVM) is a project management technique that integrates the scope of work with the schedule and cost to assess project performance. The core components of EVM include three main metrics: Earned Value (EV), which measures the value of work actually performed; Actual Cost (AC), which represents the actual expenses incurred for the work performed; and Planned Value (PV), which is the estimated value of the work planned to be completed by a specific time.

Projected Revenue does not fit into the framework of Earned Value Management because it pertains to revenue expectations rather than the measurement of project performance and progress regarding project costs and deliverables. EVM focuses specifically on the relationship between work performed and its associated costs to evaluate project health, whereas projected revenue is more concerned with financial forecasting and non-project specific economic metrics. Therefore, this distinction clarifies why projected revenue is not a component of Earned Value Management.