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EVM(Earned Value Management) has been applied in the domestic construction projects to increase efficiency of construction management. However, EVM is not properly applied, yet because of differences in contract types applied, such as lump sum contracts in Korea and cost plus fee contracts in U.S. Therefore, the original concept of EVM based on the cost plus fee contract should be modified for the lump sum contract and applied in the domestic construction projects. This research proposes an application model of EVM for the lump sum contract by investigating the previous studies and performing a case study and interviews.