High rise residential projects suffer from cost overrun and time overrun due to multiple reasons. The earned value management tool can act as a control to check project cost and schedule of any building construction. EVM is not implemented in many residential projects due to lack of understanding of importance. The main objective of my project is to apply EVM to a high rise residential project and to identify time overruns, cost overruns and probable schedule slippages in the projects through the parameters such as schedule variance, cost variance, schedule performance index and cost performance index. This EVM tool is very beneficial to track ongoing project and gives the performance of the project. The result of the project will show the difference between scheduled performance and actual performance of a project for a particular phase of the construction project. In this report, a study of an ongoing project of (G+3) APARTMENT is done. Calculation of construction data cost wise as well as month wise and activity wise plan value, actual cost and earned value for the project. From the study, I came to a conclusion that majority of the construction projects delayed due to time overrun and cost overrun.From the project parameters, it is found that the project is behind schedule as well as over budget. Original completion time for the project is 9 months but the project will take more two months for the final completion of the project, as well as estimated cost is also increased from planned cost. using this EVM tool to track an ongoing project is extremely beneficial and gives better results about the performance of the project.