Earned Value Management (EVM) is a project management technique which unifies the project’s efficiency, timing and the budget. EVM was initially developed as a public statement by the US government to manage domestic projects. In the mid, 1990’s, when EVM system gained more power, in addition to its efficient use in the government contracts, it was employed by managers in the private projects as a practical tool. In the EVM, the projects are investigated through different indexes, the most important of which are schedule, cost and quality. In other words, to evaluate the earned value of projects and make decisions, the aforementioned three factors have to be evaluated. Given the nature of EVM, many studies have been conducted on how to control and evaluate the projects based on the aforementioned factors amongst which Statistical control charts are the most remarkable. The current study attempted to investigate the researches conducted in the area of EVM and the three factors and identify the strength and shortcomings of the statistical control charts that they employed. Key Words : Earned Value Management, Schedule control, Cost control, Quality Control, Statistical control charts