The construction industry in Ethiopia is one of the major sectors that considering the rapid growth, where public and private sectors are investing substantial amount of resource. However, the performance of construction projects is non optimum. The causes for this low performance may be attributed to improper planning, execution and monitoring according to the required guidelines and best-practices in modern construction management. So to achieving better performance, this study examines the applicability of Earned Value Management (EVM) technique in measuring the performance and forecasting of infrastructure projects as alternative means. EVM is a project monitoring and controlling technique which integrates technical performance, cost, and schedule. This paper investigates the usage and level of awareness of EVM through expert analysis using questionnaire survey. The study revealed that key players in Bahir Dar construction industry have very low usage and low level of awareness. A relatively low number of stakeholders have applied some parts of EVM concepts in construction projects. The study identified as potential barriers in using Earned Value. Few of this barriers are lack of EVM expertise and experience, minimal awareness of EVM including training, low familiarity with the EVM techniques and poor understanding of EVM. In addition, the application of the technique is illustrated using two case studies on ongoing infrastructure projects. Finally, the paper recommends a set of practices to overcome barriers and facilitate the use of EVM. Thus, EVM can be a useful tool to monitor project status and forecast by integrating cost and time