Which concept involves measuring project performance against a baseline?

Earned Value Management (EVM) is a project management technique that involves measuring project performance by comparing the planned progress (baseline) with the actual progress. This method provides quantitative data on the project's performance and allows project managers to assess how far along the project is compared to its schedule and budget. By analyzing the earned value, which represents the value of work actually performed up to a specific point in time, against the planned value and the actual cost, project managers can determine if they are on track, ahead, or behind schedule.

Utilizing EVM, one can gain insights into various performance metrics, such as Cost Performance Index (CPI) and Schedule Performance Index (SPI), which help in making informed decisions about project adjustments. This data-driven approach helps in proactive management of projects, ensuring that stakeholders understand the project's status in relation to its objectives and constraints.

The other concepts listed, while essential in project management, do not focus specifically on measuring project performance against a baseline in the way EVM does. Project Scope Management pertains to defining and managing all the work required for a project but does not directly involve performance measurement. Risk Assessment Techniques focus on identifying, analyzing, and responding to project risks rather than measuring performance metrics. Cost-Benefit Analysis