Comprehensive and Detailed Explanation:
Earned Value Analysis (EVA) provides a quantitative measure of project progress by comparing planned value, earned value, and actual costs. This gives insight into schedule and budget performance, making it the best tool to assess whether the project is on track.
Critical path (A): Helps in identifying dependencies but not progress.
Work breakdown structure (C): Defines scope but does not measure progress.
Traceability matrix (D): Ensures requirements coverage, not schedule/cost progress.
# ISACA Reference: CISA Review Manual 27th Edition, Domain 3 (Information Systems Acquisition, Development, and Implementation), section on project management metrics and monitoring techniques.