scholarly journals Earned Value Management System in Indonesian Construction Projects

2021 ◽  
Vol 13 (3) ◽  
Author(s):  
Mandiyo Priyo ◽  
Keyword(s):  
Project Management ◽  
Construction Projects ◽  
Project Performance ◽  
Performance Estimation ◽  
Building Construction ◽  
Value Management ◽  
Earned Value ◽  
Earned Value Management ◽  
Project Completion ◽  
Critical Elements

Earned Value Management (EVM) is a methodology combining scope, schedule, and resource measurements to assess project performance and progress. It involves integrating the three critical elements of the project covering schedule, work scope, and cost. Various benefits are associated with the use of EVM in project management. This research aims to analyze four units of building construction projects using the EVM method consisting of an analysis of project performance, estimation of cost, and time for project completion, and planning estimation analysis against project completion. The results revealed that from the aspect of time, three buildings were completed ahead of schedule, and another one was behind schedule. In terms of cost, three buildings cost lower than the estimated budget, while one other building was higher.

Predicting the project time and costs using EVM based on gray numbers

2019 ◽  
Vol 26 (9) ◽  
pp. 2107-2119 ◽  
Author(s):  
Samira Nadafi ◽  
Seyed Hamed Moosavirad ◽  
Shahram Ariafar
Keyword(s):  
Completion Time ◽  
Construction Projects ◽  
Design Methodology ◽  
Value Management ◽  
Earned Value ◽  
Earned Value Management ◽  
Content Type ◽  
Project Completion ◽  
Practical Implications ◽  
Significant Point

PurposeThe purpose of this paper is to determine the project completion time and cost under non-deterministic conditions using interval gray numbers (IGNs).Design/methodology/approachThe earned value management (EVM) method based on the IGN has been developed.FindingsThe EVM method based on the IGN has been verified by a numerical example that can be applied to construction projects.Practical implicationsThe EVM method, based on the gray numbers, reduces the budget and time shortage risk. Also, using this method, the managers would not be restricted to provide very exact values in their progress reports in the non-deterministic conditions.Originality/valueOne notable and significant point in all projects during the execution process is to estimate the project completion time and cost. However, non-deterministic conditions for both planned and actual physical completion percentage of projects have not been considered for predicting the project completion time and cost in the literature. Therefore, the novelty of this paper is the prediction of project completion time and cost under non-deterministic conditions using IGN.

scholarly journals Risk factors affecting the ability for earned value management to accurately assess the performance of infrastructure projects in Australia

2019 ◽  
Vol 19 (4) ◽  
pp. 550-569 ◽  
Author(s):  
Maan Nihad Ibrahim ◽  
David Thorpe ◽  
Muhammad Nateque Mahmood
Keyword(s):  
Risk Factors ◽  
Construction Projects ◽  
Project Performance ◽  
Value Management ◽  
Earned Value ◽  
Related Factors ◽  
Earned Value Management ◽  
Content Type ◽  
Factors Affecting ◽  
Factors Influencing

Purpose The purpose of this paper is to investigate a set of risk-related factors influencing the earned value management (EVM) concept as an assessment technique in evaluating the progress of modern sustainable infrastructure construction projects. Design/methodology/approach A qualitative research approach has been adopted for identifying risk-related factors influencing EVM concept from a literature review and through interviewing industry personnel, followed by an inductive process to form sets of key factors and their measuring items. Findings EVM is a common method for assessing project performance. A weakness of this approach is that EVM assessment in its current form does not measure the impact of a number of project performance factors that result from the complexity of modern infrastructure construction projects, and thus does not accurately assess their impact in this performance. This paper discusses and explains a range of potential risk factors to evaluating project performance such as sustainability, stakeholder requirements, communication, procurement strategy, weather, experience of staff, site condition, design issues, financial risk, subcontractor, government requirements and material. In addition, their measuring items were identified. Practical implications This research assists projects managers to improve the evaluation process of infrastructure construction performance by incorporating a range of factors likely to impact on that performance and which are not included in current EVM calculations. Originality/value This research addresses the need to include in the EVM calculation a range of risk factors affecting the performance of infrastructure projects in Australia and therefore makes this calculation a more reliable tool for assessing project performance.

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 DEVELOPING GROUP LEADERSHIP AND COMMUNICATION SKILLS FOR MONITORING EVM IN PROJECT MANAGEMENT

2015 ◽  
Vol 45 (1) ◽  
pp. 53-60 ◽  
Author(s):  
G.M.G Farok ◽  
Jose A. Garcia
Keyword(s):  
Project Management ◽  
Communication Skills ◽  
Early Warning ◽  
Value Management ◽  
Earned Value ◽  
Earned Value Management ◽  
Project Completion ◽  
Future Performance ◽  
Tool Monitoring ◽  
And Performance

Earned Value Management (EVM) is used to track the progress and status of a project with forecasting future performance. Leaders use the Evaluation, Verification and Monitoring with Earned Value Management (EVM) technique to evaluate their project progress and performance as an ‘early warning tool’. Monitoring EVM involves determining whether the project is on, ahead of, or behind schedule and on, under or over budget. Usually an organization has many people with many multi-dimensional strategic ideas. All of these people are focused on ultimate end points, they work on the same target, they play on the same field, and they gain their knowledge about the same markets and share their ideas with personal confident. They rely on EVM which integrates cost, schedule and scope to capture project progress assessment and project completion update.

Design and Realization of Defense Equipment Scientific Research Project Management System Based on Earned Value Management

2014 ◽  
Vol 971-973 ◽  
pp. 2317-2320
Author(s):  
Xiang Jun Yu ◽  
Chao Xie ◽  
Tian Ming Huang
Keyword(s):  
Project Management ◽  
Management System ◽  
Scientific Research ◽  
Design System ◽  
Value Management ◽  
Earned Value ◽  
Research Project ◽  
Earned Value Management ◽  
Project Management System ◽  
Scientific Research Project

This paper briefly introduces the basic connotation of earned value management, determine, from the target variable management process design, system function design and system implementation four aspects that the management of defense scientific research project management system design and implementation process based on the earned value, and some reasonable countermeasures to promote the use of the system.

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 Practical Application of Earned Value in Software Project Management—Taking the Developed IT Project as an Example

2020 ◽  
Vol 4 (3) ◽  
pp. 67
Author(s):  
Shuangxi Zhang
Keyword(s):  
Project Management ◽  
The United States ◽  
Value Management ◽  
Software Project ◽  
Earned Value ◽  
Earned Value Management ◽  
Progress Management ◽  
Actual Performance ◽  
Real Cost ◽  
The 1960S

<p>Earned value management (EVM) emerged in the United States in the 1960s<sup>[1]</sup>. It is used as an important standard of project cost management and progress management. The focus of earned value is to accurately measure the specific plan and actual performance of a project, which can accurately predicts the final cost and schedule results of the project. Earned value is based on the integration of various means of project management, so that the real cost performance of the project can be reflected, which is not achieved by other project management technologies. Based on the actual B2B project of ABCD company, this paper studies the application of earned value in practice.</p>

ON THE LIMITATIONS OF THE EARNED VALUE MANAGEMENT TECHNIQUE TO ANTICIPATE PROJECT DELAYS

2018 ◽  
Vol 5 (1) ◽  
Author(s):  
Pablo Ballesteros-Pérez ◽  
Kamel Mohamed Elamrousy
Keyword(s):  
Significant Proportion ◽  
Control Technique ◽  
Value Management ◽  
Management Technique ◽  
Monitoring And Control ◽  
Earned Value ◽  
Earned Value Management ◽  
Project Completion ◽  
And Control ◽  
Project Delays

A significant proportion of projects across the construction industry fail to meet their planned completion dates, being this a recurrent topic in the project management literature. Multiples causes of project delays have been proposed, however, hardly any attention has been paid to the fact that the most celebrated project monitoring and control technique – the Earned Value Management (EVM) – may not be as fit for purpose as it seems. It is proposed that because EVM ignores activity duration variability it always results in optimistic completion dates which may be very difficult to meet in the real projects. This research offers a fresh and long overdue critique of EVM in its most common implementation (assuming deterministic activity durations and costs), while highlighting its shortcomings. Particularly, Monte Carlo simulations are implemented to exemplify how the merge event bias phenomenon is inadvertently impacting the schedule in both time and cost dimensions. A fictitious case study is used to demonstrate the connection between these shortcomings and what is then conceived as a delay in project completion.

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