The paper is devoted to earned value management, it describes the basic tools of this method, particular attention is directed to the indicators of the deviation of the time of the project. Also reasons for not using the method in practice are revealed. The main problem of the method of earned value management – the impossibility of its application to project time control, analyzed ways to solve this problem, proposed by W. Lipke, were identified. As an example, a project consisting of 8 works was reviewed. It has been reviewed three cases of possible cost sharing between critical and non-critical activities. It is revealed that the method proposed by Lipke, is not suitable for the project, where the cost of critical activities is low. The conclusions are about the possibility of using the method for the project time control.