Final answer:
Earned value analysis (EVA) is the standard procedure for measuring a project's progress, forecasting its completion date and cost, and providing measures of schedule and budget variation. It involves comparing the planned value, actual cost, and earned value.
Step-by-step explanation:
The standard procedure for numerically measuring a project's progress, forecasting its completion date and cost, and providing measures of schedule and budget variation as activities are completed is referred to as earned value analysis (EVA). EVA is a project management technique that integrates schedule, cost, and scope to assess the overall performance and progress of a project. It involves comparing the planned value (PV), actual cost (AC), and earned value (EV) to determine the project's performance.