The Indian construction industry is one of the most vibrant and dynamic sectors that constantly seek innovation to improve project and cost management. Research shows that the construction industry faces cost overruns and time variances due to improper project management and supervision. There are many cost analysis methods for tracking cost overruns. Earned Value Management is one of the most important cost management tools that helps predict and control performance and costs. Despite the widespread acceptance of EVM and many other value systems, EVM is still not fully implemented in the Indian economy. The main objective of this article is to analyze and evaluate the implementation of EVM in the Indian economy by identifying the challenges and the importance of success. To achieve this goal, this study collected information from the project manager and cost manager through a survey. The data collected provides an insight into the current status and benefits of EVM usage in the Indian economy. Additionally, this study aims to identify the key success factors that contribute to the success of EVM in the Indian market. Since there is less research on EVM in the Indian construction industry, the results and data of this survey should provide a general overview of the status of EVM usage in the Indian economy. These findings will form the basis for the development of a framework for using EVM to achieve better project management and cost control.