scholarly journals Application of Earned Value Method in Project Cost Management and Schedule Management

2021 ◽  
Vol 4 (4) ◽  
pp. 146-152
Author(s):  
Wenjing Xu
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Cost Management ◽  
Rapid Development ◽  
Earned Value ◽  
Schedule Management ◽  
Management Ability ◽  
Engineering Projects ◽  
China’S Economy

At present, with the rapid development of China’s economy, the development of the construction industry has made a new breakthrough. Project management requires the construction industry to continuously play its role and value in improving the ability of project management. Earned value method, which is an important way in the field of project management, enables whole project management to rise to a new height. The specific principle of earned value method will be elaborated by fully introducing the specific role of earned value method in engineering projects to provide a reference and basis for practitioners to improve their management ability.

BIM-Risk System for Chinese International Contractors

2015 ◽  
Vol 719-720 ◽  
pp. 181-186
Author(s):  
Ya Ting Li
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Construction Industry ◽  
Cost Management ◽  
External Environment ◽  
Project Risk ◽  
Building Information Model ◽  
International Construction ◽  
Potential Problems ◽  
Building Information

As the external environment of the international construction project has become increasingly complex, risk management is emphasized in the project management. BIM(Building Information Model) has bring change to the Construction Industry in China. It has contributed to the schedule and cost management. However, BIM is not widely used to solve the problem of risk management. This thesis cites the possibility about BIM application to risk management and evaluates the progress it may bring to the process of risk management. Furthermore, a BIM-Risk System is proposed for Chinese international contractors to solve some major risks the international contractors may face. By using this system, the level of the project risk management will significantly improve. Then the barriers and the potential problems of applying BIM to risk management in China are analyzed. The BIM application to risk management has great value to be further researched.

scholarly journals Research on Multi-objective Optimization of Substation Project Management Based on Resource Constraint

2021 ◽  
Vol 261 ◽  
pp. 01055
Author(s):  
Xichu Zhou ◽  
Li Sun ◽  
Sixia Fan ◽  
Bin Wu
Keyword(s):  
Project Management ◽  
Resource Constraints ◽  
Rapid Development ◽  
Multi Objective Optimization ◽  
Gradual Improvement ◽  
Project Duration ◽  
Multi Objective ◽  
Optimal Resource ◽  
Electricity Load ◽  
Engineering Projects

With the rapid development of China’s economy, the electricity load continues to increase, the national demand for power engineering projects is also increasing.In the context of the gradual improvement of national requirements for substation projects, decision makers no longer only consider the optimal standards of project duration, cost and quality, but also the resources consumed in the construction and the degree of impact on the environment are important criteria for judging projects.However, in order to be environment-friendly and based on resource constraints, the project management of substation projects is becoming more and more complicated.In this paper, resource factors are added on the basis of the three classical indexes, and the optimal resource allocation of the project is realized under the condition of minimizing the adverse impact on the environment. The feasibility scheme of multi-objective optimization is obtained through particle swarm optimization algorithm.

INFORMATION SYSTEM FOR MANAGING COST REIMBURSABLE CONSTRUCTION PROJECT

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Namhee Kang ◽  
Hyunjung Kim ◽  
Haekyung Im ◽  
Jaehyun Choi
Keyword(s):  
Information System ◽  
Project Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Cost Management ◽  
Construction Project ◽  
Document Management ◽  
Cost Calculation ◽  
Market Strategy ◽  
The Us

The project management information system (PMIS) has recently been developed by using the IT technology in order to implement advanced information management technology to construction industry in Korea. The PMIS has been applied not only to domestic construction projects, but also to some overseas projects executed by Korean construction companies. This study was performed to develop the PMIS that is tailored to the US construction IT market. The US construction IT market has been monopolized by the US-based IT companies, but other companies are recently emerging with competitive technology and market strategy. As a preceding study, existing systems commercially available were analyzed, and the required features of the PMIS were identified by analyzing the core elements of contract, process and cost management for construction projects in the US. The PMIS then was developed based on the aforementioned analysis results. The system includes the document management module with an internal electronic approval system, the cost-plus-based automatic labor cost calculation module, and the progress management module to support the integrated project cost management. In addition, the functionality of the developed system was verified by construction project management experts in the US via questionnaire survey. The PMIS, which was developed in this study, is expected to be applied not only to the US construction IT market as a system specialized for the US construction industry, but also to other overseas markets in the future.

scholarly journals The role of information management in project management success: Narratives from entrepreneurs operating within the South African construction industry

2017 ◽  
Vol 19 (1) ◽  
Author(s):  
Willie T. Chinyamurindi
Keyword(s):  
Project Management ◽  
Information Management ◽  
Construction Industry ◽  
South African ◽  
Project Success ◽  
Research Approach ◽  
The South ◽  
Structured Interviews ◽  
Role Of Information

Background: The South African construction industry is noted to be one of the most popular industries heavily dependent on projects. Calls exist for research that ascertains not just how entrepreneurs act as project managers but also the evaluation of project success and the role information management plays in all this.Objectives: The aim of this study was to understand the views and experiences of entrepreneurs in how: (1) project management success is conceptualised, and (2) the role that information management played to this within a South African construction industry space.Method: The study adopts a qualitative research approach using semi-structured interviews to generate narratives and themes around how: (1) project management success is conceptualised, and (2) the role that information management played to this. A sample of 15 entrepreneurs working within the construction industry was used for this study.Results: Based on the analysis of the narratives of the 15 entrepreneurs, project success was conceptualised mainly along three themes. Firstly, project success was about keeping the customer happy. Secondly, project success in the construction industry meant meeting the set targets, especially those of a financial nature. Finally, project success was about channelling internal synergies to realise external gains. Further, the 15 entrepreneurs espoused one main sub-theme around the role of information management to this conceptualisation of project success. This posits the role of information management to be a currency in effective decision-making.Conclusion: The study concluded by focusing on the implications and recommendations based on the identified themes.

Research of Hazards Management Model in Construction Site

2014 ◽  
Vol 501-504 ◽  
pp. 2419-2423
Author(s):  
Xiang Dong Zhao
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
National Economy ◽  
Basic Theory ◽  
Management Mode ◽  
Management Model ◽  
Construction Site ◽  
Hazard Management ◽  
Before And After

The position and role of the construction industry in the national economy is getting increasingly significant, though the safety situation of construction production is not optimistic as hazards is the basic cause of the accident as well as the necessity of the research of hazard management mode has been increasing. Based on the hazards of the basic theory from two aspects: the identification of hazards control and analyze the hazard management, obtained from the project before and after the project, project management of hazards management model.

scholarly journals The Application and Challenges of Earned Value Management (EVM) As Cost Monitoring Tool in the Construction Industry

2018 ◽  
Vol 7 (3.36) ◽  
pp. 96
Author(s):  
Noorhidayah Sunarti ◽  
Zetty Pakir Mastan ◽  
Lum Seon Cin
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Time Management ◽  
Construction Projects ◽  
Value Management ◽  
Monitoring Tool ◽  
Earned Value ◽  
Management Tools ◽  
Earned Value Management ◽  
Implementation Level

Earned Value Management (EVM) is one of the fundamental approaches acting as a comprehensive project management and controlling technique for tracking the costs and examining project expenditures relative to the physical progress of work. Majority of the previous literature reviews and findings indicates the positive contributions of EVM in monitoring the project time-cost performance progressively and forecasting its future trends. However, EVM was not widely used as practically, the traditional cost and schedule monitoring tool is still very common in the construction industry. Thus, this research was conducted using quantitative method to the identified quantity surveying, project management and construction firms in Klang Valley area to achieve the objectives of; (1) to identify the implementation level of EVM in construction projects, (2) to recognize the EVM contribution as cost monitoring tool compared to the other mehods, and (3) to ascertain the challenges in using EVM. Based on the result, majority has reaffirmed that EVM is positively contribute to project cost monitoring and provide an overall effective cost management tools in their projects. Despite the major challenges identified in using EVM are due to the lack of EVM knowledge, expertise and experience by the user in the industry, the results also indicating that more construction players have come to realize that integration of cost and time management in EVM is beneficial to the construction industry.  

scholarly journals The Teaching and Practical Exploration of the Introduction of BIM Technology into Construction Project Management Courses

2020 ◽  
Vol 4 (10) ◽  
Author(s):  
Li Zhang
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Rapid Development ◽  
Construction Project ◽  
Construction Project Management ◽  
Urbanization Process ◽  
The Core ◽  
Teaching Reform ◽  
Core Courses

With the continuous acceleration of the urbanization process, the construction industry has achieved rapid development, and the demand for construction talents is also increasing. "Construction project management" is one of the core courses of the architectural profession. The quality and level of the course teaching are directly related to the effect of the cultivation of talents. This paper focuses on the issues related to the teaching reform of construction project management courses based on BIM technology.

Study on Forecast of Engineering Project Cost Using Single Regression Method

2013 ◽  
Vol 357-360 ◽  
pp. 2610-2613
Author(s):  
Wen Qiong Li ◽  
Fei Li ◽  
Yue Xiang Yang
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Cost Management ◽  
Regression Method ◽  
Infrastructure Investment ◽  
Engineering Project ◽  
Project Cost ◽  
Vital Part ◽  
Engineering Project Management ◽  
Single Regression

In recent years, construction industry develops rapidly with infrastructure investment continuing to increase. Project cost management is demanded increasingly in engineering project management, and cost forecast is a vital part that enterprise strengthen overall cost management and play an important role in engineering project management increasingly. This paper uses single regression method to forecast engineering project cost, in order to make project cost management more scientific and effective.

scholarly journals Evaluating The Role Of Project Management On Technical And Behavioral Competence In The Success Of Road Construction Project

2021 ◽  
Vol 23 (12) ◽  
pp. 1-19
Author(s):  
DAGIMWORK ASELE MANUKA ◽  
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Technological Factor ◽  
Road Construction ◽  
Substantial Effect ◽  
Project Performance ◽  
Performance Goals ◽  
Technical Performance ◽  
Behavioral Competencies

The objective o to study the role of project management technical and behavioral competencies on project performance. The unique nature of the construction industry, coupled with challenges of global competitiveness, and changing regulatory requirements have created excessive demand for highly knowledgeable and competent project management. Project management is a philosophy and technique that allows users the maximum utilization of their potential with limited sources, together with the increase of profitability. Competency is capacities and attributes that project manager should possess to realize project aims and objectives. Effective project performance can be achieved with relating competency of an individual, requirement of the job and project environment. Findings indicate the role of project management technical and behavioral competencies is undeniable in the success of a project. Besides, technical competencies have a substantial effect on project performance. Projects meet their technical performance goals, efficiency of the project management effort, and projects meet their operational performance goals are perceived as successful projects. Since, both technological factor and ethical factors are the biggest challenge in Sodo Town construction industry, recommended that the sector must have ways to overcome these challenges and all concerned stakeholders work intensively on remedial measures.

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