Poor cost management is a severe problem that occurs in the current situation in the construction industry, resulting in big amount of cost overrun which not only in Malaysia but it is a phenomenon that happens frequently in the global construction industry. Traditional methods of cost performance measurement such as standard financial s-curve, daily monitoring, weekly or monthly report are less efficient in monitoring and controlling the cost performance of a project. This paper is focusing on the investigation of the effectiveness of Earned Value Analysis (EVA) as cost controlling tools in construction projects in contractor’s perspective. Earned Value Analysis (EVA) is a cost controlling technique that unites the performance of cost and schedule. Descriptive study is carried out in this research and survey form is the methodology that used to collect the quantitative data from target respondents who are Grade 7 Contractor firms in Petaling District. The findings have shown that the awareness of EVA technique is low among in study area as the frequency of usability is low. However, the findings have indicated that EVA is able to improve the cost performance of the construction projects. The contribution of EVA which is remedial actions can be taken earlier to keep the cost within budget is ranked as the 1st place among the listed contributions with the highest mean score. The data collected can be concluded that EVA technique is effective in playing the role as a cost controlling tool in construction project.