During a project status update by the project management office (PMO), the CEO is concerned...

 Earned value (EV) is a technique that measures the performance of a project by comparing the actual work completed with the planned work. It can help the PMO to report the project’s health in terms of schedule and cost variance, as well as the schedule and cost performance index. EV can be applied to both predictive and adaptive (agile) projects, as long as the project scope, schedule, and budget are defined and measurable. The PMO can use agile progress, such as the number of features delivered, user stories completed, or story points earned, as an input to calculate the EV KPls. This way, the PMO can provide upper management with the traditional reports that they are used to, while also reflecting the agile nature of the projects. References:

A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, Chapter 7, Section 7.4.2.1

Practice Standard for Earned Value Management – Second Edition, Chapter 3, Section 3.2.3

Agile Practice Guide, Chapter 5, Section 5.4.2