The subject belongs to the applied integrated aspect of project management. It introduces "Earned Value Management" which served especially for the management of project time and cost and to measure the performance. It aims at the maximum integrated project profit; bases on the coordination and integration of project schedule, cost, quality, scope and purchase; recognizes of the reality that many major Chinese shipbuilding companies still use the traditional single factor deflection analysis for the process of ship and ocean project building and cost management. Based on the classical earned value management theory and according to the complex and uncertainty of the naval architecture and ocean engineering, we achieve the goal of totally control the processing of the project by using the multi-factor performance evaluation system which views the project cost as a core and identify the earned value analysis by introducing the in-between flexion which is similar to "earned value"; constructing the multi-factor performance evaluation mode which suitable for the construction of the shipping and ocean project; completing the ship building concept design of multi-angle performance evaluation system; and completing the establishment of performance evaluation system and the process monitoring of the construction of ship and ocean project.