Implementing Earned Value Easily and Effectively

1998 ◽  
Vol 29 (2) ◽  
pp. 11-18 ◽  
Author(s):  
Daniel M. Brandon
Keyword(s):  
Completion Time ◽  
Project Performance ◽  
Actual Cost ◽  
Earned Value ◽  
General Lack ◽  
Powerful Approach ◽  
Quantitative Basis ◽  
Implementation Problems ◽  
Effective Use ◽  
The U.S

Earned value is a powerful approach for evaluating true project performance. It also provides a quantitative basis for estimating actual completion time and actual cost at completion. However, the effective use of this technique is rare outside of the U.S. government and its contractors. There are several reasons for this general lack of use. This paper presents the implementation problems and also some methodology and specific techniques to overcome each of these problems, thus providing an effective and relatively easy implementation of earned value.

Earned Schedule and the Use of Schedule Execution Reporting Metrics

2018 ◽  
Author(s):  
Philip J. Beck ◽  
Dennis Kovacs
Keyword(s):  
Performance Index ◽  
Critical Path ◽  
Project Performance ◽  
Value Management ◽  
Earned Value ◽  
Past Performance ◽  
Earned Value Management ◽  
Time Element ◽  
Schedule Performance ◽  
Schedule Execution

The traditional approach of managing project performance is with the use of Earned Value Management. There is a recent trend towards the expansion of traditional Earned Value Management practices to include the concept of Earned Schedule. Whereas Earned Value provides insight as to how the project is trending in relation to the plan by assessing cost and schedule variances, Earned Schedule focuses on the time element of schedule performance throughout the project execution phase. Earned Value, although very effective at providing visibility to cost performance, is not as transparent when it comes to schedule performance over time. Case in point, at completion, irrespective as to how work progressed on the schedule (ahead or behind plan) at completion, the schedule performance index will always be 1.0. Earned Schedule overcomes this drawback, providing useful tools to report on schedule performance, and providing visibility to the project state from which to base informed decisions. To perform the analysis, Earned Schedule analysis incorporates detail from the baseline and forecast schedules as well as the integrated project management cost report (earned versus planned). In addition to looking at Earned Schedule metrics, other key metrics are factored into this approach to assess overall schedule performance. Key metrics derived from the schedule and highlighted in this approach include: • Critical Path Length Index (CPLI) • Baseline Execution Index (BEI) • Total Float Consumption Index (TFCI) • To Complete Schedule Performance Index (TSPI) • Predicted Forecast Finish Date (PFFD) • Schedule Performance Index (time) (SPIt) • Independent Estimate At Complete (time) (IEACt) The intent of these metrics is to identify trends and assist in predicting project outcomes based on past performance. Since this approach is highly dependent on the schedule data, the more compliant a schedule is to industry best practices the better the quality of the results. The metrics are negatively impacted by recent re-baselining as this causes us to lose historical performance detail. Frequent analysis of the schedule execution reporting metrics defined above provides transparency of project performance and brings visibility to early risk triggers in support of a proactive approach to project execution monitoring and control. This paper will present a case study demonstrating how additional transparency through this approach highlighted a potential schedule risk. This increased visibility allowed the project team to reprioritize and implement proactive corrective actions to mitigate any potential impact to the project In Service Date (ISD).

scholarly journals ANALISIS KETERLAMBATAN PROYEK SERTA DAMPAKNYA TERHADAP BIAYA DAN WAKTU PELAKSANAAN PROYEK

2019 ◽  
Vol 5 (1) ◽  
pp. 13-19
Author(s):  
Fitri Nur Kharina ◽  
Kusno Adi Sambowo
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Project Performance ◽  
Project Work ◽  
Earned Value ◽  
Time Period ◽  
Review Period ◽  
The Difference ◽  
The Cost ◽  
The Impact

Construction projects in all regions continues to be developed for the creation of facilities that can be utilized by the community. One of them is the construction of apartments which are now being intensively carried out to meet residential needs for the community. Making a construction project plan always refers to estimates that exist at the time development plan is made, therefore problems can arise if there is a discrepancy between the plans that have been made and the actual reality. So the impact that often occurs is the delay in the time of project implementation which can also be accompanied by an increase in the cost of implementing the project. In the construction project of Cinere Terrace Suites Apartemen & Citywalk, Jakarta there was a delay resulting in a late payment of monthly bill progress by the owner. Based on the above reasons, this research was conducted to find out how the project performance was seen from the cost and time period of the review period. how is the estimated cost and time to complete the overall project work. The method used in the analysis of this study is the Earned Value Method. Based on the results of the analysis carried out for 29 weeks the project performance on schedule has been delayed and cost shows a positive value. For the estimated completion time of the project there is an increase in time whose duration increases from the planned 98 weeks or 685 days to 109,624 weeks or 768 days. While the estimated cost of completing the project from the results of the analysis obtained a value of Rp. 270,147,448,569.16 smaller than the planned cost of Rp. 315,272,727,272.73. With the difference VAC of Rp. 45,125,278,703.57 this shows that there are benefits obtained by the contractor.

Augmented Reality Text Style Readability with See-Through Head-Mounted Displays in Industrial Context

2013 ◽  
Vol 22 (2) ◽  
pp. 171-190 ◽  
Author(s):  
Michele Fiorentino ◽  
Saverio Debernardis ◽  
Antonio E. Uva ◽  
Giuseppe Monno
Keyword(s):  
Augmented Reality ◽  
Completion Time ◽  
Presentation Mode ◽  
Error Rates ◽  
Head Mounted Display ◽  
Head Mounted Displays ◽  
Specific Meaning ◽  
Industrial Environments ◽  
Effective Visualization ◽  
Effective Use

The application of augmented reality in industrial environments requires an effective visualization of text on a see-through head-mounted display (HMD). The main contribution of this work is an empirical study of text styles as viewed through a monocular optical see-through display on three real workshop backgrounds, examining four colors and four different text styles. We ran 2,520 test trials with 14 participants using a mixed design and evaluated completion time and error rates. We found that both presentation mode and background influence the readability of text, but there is no interaction effect between these two variables. Another interesting aspect is that the presentation mode differentially influences completion time and error rate. The present study allows us to draw some guidelines for an effective use of AR text visualization in industrial environments. We suggest maximum contrast when reading time is important, and the use of colors to reduce errors. We also recommend a colored billboard with transparent text where colors have a specific meaning.

scholarly journals PROJECT PERFORMANCE MONITORING METHODS USED IN MALAYSIA AND PERSPECTIVES OF INTRODUCING EVA AS A STANDARD APPROACH / MALAIZIJOJE NAUDOJAMI PROJEKTŲ EFEKTYVUMO STEBĖJIMO METODAI IR GALIMYBĖS EVA NAUDOTI KAIP STANDARTINĘ METODIKĄ

2011 ◽  
Vol 17 (3) ◽  
pp. 445-455 ◽  
Author(s):  
Hamzah Abdul-Rahman ◽  
Chen Wang ◽  
Norjuma’ah Binti Muhammad
Keyword(s):  
Project Management ◽  
Manufacturing Industry ◽  
Structured Interview ◽  
Project Performance ◽  
Management Tool ◽  
Stochastic Methods ◽  
Earned Value ◽  
Value Analysis ◽  
Earned Value Analysis ◽  
Qualitative Approaches

Earned value analysis (EVA) is a well-known project management tool for monitoring and forecasting the project performance such as time and cost. Despite the benefits found in the manufacturing industry, EVA has not been widely implemented in the Malaysian construction industry. This study is aimed to determine the advantages of EVA over other project control methods, to determine the suitability of implementing EVA in construction projects, and to develop a working flowchart as a guide in implementing EVA. Accordingly, qualitative approaches including the structured interview survey and the flowchart development were employed in this study. Findings reveal that comparing to stochastic methods, Fuzzy logic model, and miscellaneous methods, the EVA has remarkable advantages in accuracy, flexibility, and adaptability for complexity. Malaysian government has decided to implement EVA to enhance the level of project management for the whole country. Hence, an EVA working flowchart was developed by the authors, through which more de- tailed project status could be monitored and more accurate future performance of the project could be forecasted. Santrauka Uždirbtos vertės analizė (UVA, angl. Earned Value Analysis, EVA) – paplitęs projektų valdymo įrankis, skirtas projekto efektyvumui, pavyzdžiui, laikui ir sąnaudoms, stebėti ir prognozuoti. Nors UVA nauda gamybos sektoriuje akivaizdi, Malaizijos statybų sektoriuje ji nėra plačiai taikoma. Šiuo tyrimu siekiama nustatyti UVA pranašumus prieš kitus projektų kontrolės metodus, nustatyti UVA tinkamumą statybų projektams ir sukurti darbinę srautų diagramą, kuri padėtų diegiant UVA. Taigi tyrime taikyti kokybiniai metodai, įskaitant apklausą, naudojant nustatytos struktūros pokalbius, ir srautų diagramos kūrimą. Išvados rodo, kad tikslumu, lankstumu ir pritaikymu sudėtingiems atvejams UVA yra gerokai prana- šesnė už stochastinius metodus, neraiškiosios logikos modelį ir įvairius kitus metodus. Malaizijos Vyriausybė nutarė įdiegti UVA, taip pagerindama projektų valdymą visoje šalyje. Dėl to autoriai sukūrė darbinę UVA srautų diagramą, kuri leidžia stebėti smulkesnius projekto būsenos aspektus ir tiksliau prognozuoti projekto efektyvumą ateityje.

scholarly journals Integrated earned value analysis and their impact on project success

2020 ◽  
Vol 1 (1) ◽  
pp. 34-39
Author(s):  
Fatemeh Nouban ◽  
Nour Alijl ◽  
Mohammad Tawalbeh
Keyword(s):  
Project Management ◽  
High Performance ◽  
Project Success ◽  
Total Duration ◽  
Project Performance ◽  
Earned Value ◽  
Value Analysis ◽  
Safety Control ◽  
Earned Value Analysis ◽  
Measure Project

The project management system has many tools and techniques to control projects' main elements schedule, cost, quality, risk, communications and procurements to attain project success and high performance. Earned value analysis (EVA) is the most effective tool to measure project performance which is widely used by many organisations such as Defence Acquisition University; National Aeronautics and Space Administration; Society of Cost Estimates and Analysis; and Project Management Institute (PMI)  to measure project performance and control it through cost and schedule,  which are illustrated into graphs to forecast the project results to be shared and reported to top management, stakeholders and client in regular basis taking into consideration the other factors such as risk management, project environment, quality, safety, control charts, and sustainability to attain highly performance. Proposed methodology in the presented paper to implement the integrated EVA in an effective and uncomplicated way to attain project success and high performance using an automated sheet to perform analysis for an anonymous hospital design project with the total duration of seven months and illustrates and summarises the key factors based on previous studies and project examples.

scholarly journals STUDI PENGENDALIAN WAKTU DAN BIAYA PADA PELAKSANAAN PEMELIHARAAN JALAN SIMPANG RAJA BAKONG - TANAH PASIR DENGAN MENGGUNAKAN KONSEP NILAI HASIL

Teras Jurnal ◽  
2016 ◽  
Vol 2 (4) ◽  
Author(s):  
Adzuha Desmi
Keyword(s):  
Actual Cost ◽  
Earned Value ◽  
Schedule Performance

<p>Pengendalian merupakan salah satu fungsi dari manajemen proyek yang bertujuan agar pekerjaan-pekerjaan dapat berjalan mencapai sasaran tanpa banyak penyimpangan. Konsep Nilai Hasil (Eaned Value) adalah sutau metode pengendalian yang digunakan untuk mengendalikan biaya dan jadwal proyek secara terpadu. Metode ini memberikan informasi status kinerja proyek pada suatu periode pelaporan dan memberikan informasi prediksi biaya yang dibutuhkan dan waktu untuk penyelesaian seluruh pekerjaan berdasarkan indikator kinerja saat pelaporan. Pada proyek pemeliharaan jalan Simpang Raja Bakong - Tanah Pasir, informasi yang didapat saat pelaporan pada minggu ke- 13 adalah Planed Value (PV) = Rp 9,148 milyar, Earned Value (EV) = Rp.7,497 dan Actual Cost (AC) = Rp.8,352 milyar. Pada saat ini kinerja proyek dari aspek biaya dikatakan untung Cost Varian (CV) = - Rp. 0,874 milyar dan Cost Performed Index (CPI) = 1,117 &gt; 1. Dari aspek jadwal, dikatakan proyek ini mengalami keterlambatan Schedule Varian (SV) = - Rp.0,487 milyar dan Schedule Performance Indek (SPI) = 0,939 &lt; 1. Prediksi biaya yang diperlukan untuk menyelesaikan seluruh pekerjaan adalah Rp.10,80 milyar, menunjukkan proyek mengalami kerugian karena diatas biaya rencana sebesar Rp. 9.148 milyar. Sedangkan prediksi jadwal yang diperlukan 114 hari, menunjukkan mengalami keterlambatan 2 hari dari rencana.</p><p><br /><strong>Kata Kunci :</strong> planned value, earned value, actual cost, indek kinerja, costvarian</p>

scholarly journals Adjunctive Antifibrotic Therapy with Mitomycin C and 5-Fluorouracil: A Review of their use in Glaucoma Surgery and Considerations around Ophthalmic Compounding

2019 ◽  
pp. 154-169
Author(s):  
Fiscella R ◽  
Leiter CW ◽  
Massoomi F ◽  
Noecker R ◽  
Sheybani A
Keyword(s):  
Minimally Invasive ◽  
Mitomycin C ◽  
Drug Safety ◽  
Glaucoma Surgery ◽  
Subconjunctival Injection ◽  
Drug Products ◽  
Antifibrotic Therapy ◽  
Effective Use ◽  
Different Doses ◽  
The U.S

Background: Antifibrotics and antimetabolites, including 5-fluorouracil (5-FU) and mitomycin C (MMC), have been used for decades to improve ophthalmic surgical outcomes, most notably with glaucoma filtering procedures. Adjuvant MMC and 5-FU also enhance the efficacy of minimally invasive subconjunctival drainage implants now being used. The authors feel that a review of the usage and safety of these agents is merited, especially in light of updated and new USP guidelines for compounded and hazardous drugs.Main Body: The mode of perioperative administration of MMC during glaucoma surgery is evolving with a shift from the traditional sponge application to subconjunctival injection, allowing for a more precise dosing and controlled administration of this medication. Several studies demonstrate effective use of MMC and 5-FU, at a variety of different doses. Most of these studies use compounded MMC and 5-FU. Glaucoma surgeons must be careful in how they source MMC, however, as the U.S. Food & Drug Administration (FDA) expects physicians to use FDA-approved drug products when clinically appropriate. When a physician determines a compounded version of MMC is clinically necessary for an individual patient, the FDA closely regulates how and when drug products can be compounded and by what type of facilities. There will also be additional increased scrutiny on storage and disposal of MMC and 5-FU as new regulations are introduced.Conclusion: This review of MMC and 5-FU and their role in glaucoma surgery will address questions regarding drug safety, procurement, use, and disposal.

scholarly journals Evaluasi Pelaksanaan Pekerjaan Proyek Rehabilitasi Gedung Dinas Kependudukan dan Catatan Sipil dan Bappeda Kota Bekasi

2018 ◽  
Vol 6 (1) ◽  
pp. 78-92
Author(s):  
Acep Ali Taufan ◽  
Ninik Paryati ◽  
Elma Yulius
Keyword(s):  
Actual Cost ◽  
Earned Value

Penelitian ini bertujuan untuk mengevaluasi suatu proyek untuk dapat diketahui dan diantisipasi terjadinya keterlambatan progress proyek. Dalam proses evaluasi proyek ini dilakukan identifikasi mendalam terhadap aspek - aspek yang mempengaruhi keterlambatan progress proyek, seperti aspek teknis, sumber daya manusia dan keuangan. Dilakukan survey/investigasi ke lapangan untuk mengetahui permasalahan yang mengakibatkan terjadinya keterlambatan dan menganalisis data-data untuk mengidentifikasi adanya indikasi keterlambatan progress atau kerugian proyek secara dini. Untuk dapat mengetahui kinerja suatu proyek yang harus selalu sesuai dengan target - target rencana, metode yang dipakai adalah metode Earned Value Method (EVM) dengan indikator - indikator : Actual Cost of Work Perform (ACWP), Budgeted Cost of Work Perform (BCWP), Budgeted Cost of Work Scheduled (BCWS). Hasil perhitungan Earned Value Method (EVM) ini di dapat nilai ACWP sebesar Rp. 430.164.472 sebagai biaya aktual yang harus dibayarkan pada minggu ke-15 dengan keterlambatan -22,385%, nilai BCWP didapat sebesar Rp. 452.804.707,- sampai minggu ke-15 untuk biaya pelaksanaan dan untuk perhitungan BCWS pada minggu ke-15 dengan progress pekerjaan mencapai 36,478% di butuhkan budget sebesar Rp.1.172.029.385,-. Maka dalam penelitian ini proyek mengalami keterlambatan sampai dengan minggu ke-15 sebesar -22,385% dan di perkirakan akan mengalami kerugian sebesar Rp. 946.370.216,- Kata kunci: earned value method, evaluasi proyek, kurva S, optimalisasi.

scholarly journals EVALUASI SISTEM MANAJEMEN PADA PELAKSANAAN PROYEK PEMBANGUNAN SARANAN DAN PRASARANA TEMPAT PELELANGAN IKAN (TPI) DI TUBAN JAWA TIMUR

2022 ◽  
Vol 5 (1) ◽  
pp. 24-42
Author(s):  
Sugiyanto Sugiyanto ◽  
Rendi Untoko
Keyword(s):  
Actual Cost ◽  
Work Schedule ◽  
Cost Overrun ◽  
Earned Value

Pada penelitian ini, evaluasi sistem manajemen pada proyek yang diteliti terdiri dari evaluasi kinerja biaya, evaluasi kinerja jadwal dan evaluasi penerapan mutu pada pelaksanaan proyek. Evaluasi kinerja biaya dan jadwal proyek menggunakan metode konsep nilai hasil (earned value) dan evaluasi penerapan mutu pada pelaksanaan proyek berdasarkan penilaian fisik konstruksi terhadap spesifikasi teknis yang dipersyaratkan. Penggunaan metode nilai hasil untuk mengetahui kinerja biaya dan jadwal proyek dilakukan dengan analisa variabel-variabel BCWS (Budgeted Cost for Work Schedule), ACWP (Actual Cost for Work Performed) dan BCWP (Budgeted Cost for Work Performed), kemudian digambarkan pada kurva S dengan tampilan informasi sumbu X menunjukkan durasi proyek dan sumbu Y menyatakan biaya proyek. Kurva S sangat bermanfaat untuk dipakai karena dapat dengan jelas menunjukkan kemajuan proyek dalam bentuk yang mudah dipahami, apakah terjadi pembengkakan atau penghematan anggaran proyek dan apakah terjadi kelambatan atau percepatan dalam jadwal proyek. Berdasarkan evaluasi kinerja biaya proyek, dapat diketahui terjadi pembengkakan biaya aktual proyek terhadap anggaran sebesar Rp. 12.070.959 atau pemborosan biaya sebesar 2.5% dari total anggaran biaya proyek. Kondisi terjadinya pemborosan anggaran dinamakan cost overrun, hal ini mengindikasikan bahwa pengendalain biaya dalam pelaksanaan proyek yang diteliti masih belum optimal. Berdasarkan atas evaluasi kinerja jadwal proyek, dapat diketahui ada beberapa minggu yang mengalami keterlambatan dan adapula beberapa minggu yang mengalami percepatan. Namun begitu pada masa mendekati batas akhir jadwal proyek, pelaksanaan proyek dapat dicapai tepat jadwal sesuai dengan yang direncanakan. Kondisi tercapainya jadwal pelaksanaan proyek sesuai dengan jadwal yang direncanakan (tepat jadwal) disebut on schedule, hal ini mengindikasikan bahwa dalam pelaksanaan jadwal proyek yang diteliti dapat dikendalikan secara optimal dan tepat sasaran. Adapun untuk evaluasi penerapan mutu, didapatkan bahwa berdasarkan atas penilain fisik konstruksi terhadap spesifikasi teknis yang dipersyaratkan memenuhi persyaratan mutu (persyaratan mutu terpenuhi). Kata kunci: kinerja, nilai hasil, pemborosan, tepat jadwal dan spesifikasi. 

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