EVM MODIFICATIONS TO IMPROVE COST CONTROL OF CONSTRUCTION PROJECTS
Journal Title: International Journal of Engineering Sciences & Research Technology - Year 0, Vol 5, Issue 1
Abstract
Earned Value is a well known project management tool that uses information on cost, schedule and work performance to establish the current status of the project. For all of the accomplishments of (EVM) in expressing and analyzing cost performance, it has not been as successful for schedule performance. The (EVM) schedule indicators are reported in units of cost rather than time. This fundamental mistake is not just semantic. It influences the schedule performance indicators in a way that make them practically useless and often even misleading. Beyond this problem, there is the much more serious issue: the (EVM) schedule indicators fail for projects executing beyond the planned completion date. The objective of this paper is to discuss the basic principles, main goals and benefit of the use of (EVM) in projects. In addition, the paper attempts to clarify the application of common time (EVM) metrics and compare them with the new set of time metrics to interpret the schedule performance of a project. All satisfactory results of the (EVM) application are displayed in this paper by using a case study which is conducted to compare and demonstrate the difference of analysis between both methods.
Authors and Affiliations
Hesham A. Abd-Elkhalek,
Keywords
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