What does Earned Value Management indicate about completed work?

Earned Value Management (EVM) is a project management technique that provides a quantitative measure of a project's performance in terms of cost and schedule. The correct choice indicates that it states the value of the work completed in dollars. This is pivotal because EVM integrates the scope, cost, and schedule of a project, allowing project managers to assess whether they are on track to meet their goals.

By calculating the Earned Value (EV), a project manager can determine how much of the budget has been earned through the completed work at a specific point in time. This monetary value reflects the actual performance against the planned value and the actual cost incurred. It allows for an objective assessment of the work completed compared to what was planned, thereby facilitating better management decisions and project forecasting.

Understanding this concept is crucial for effective project management, as it provides insights into both financial and schedule performance, aiding in timely adjustments to ensure project success.