scholarly journals Influences of Earned Value Management on Construction Project’s Performance in Yemen

2020 ◽  
Vol 9 (12) ◽  
pp. 64-70
Keyword(s):  
Developing Countries ◽  
Large Scale ◽  
Quantitative Methods ◽  
Reliability And Validity ◽  
Value Management ◽  
Earned Value ◽  
Earned Value Management ◽  
Cost Overruns ◽  
Qualitative And Quantitative Methods ◽  
Validity Tests

Most of projects in developing countries suffer cost overruns, behind the schedule, and bad quality due to improper monitoring and controlling technique. This study investigated the earned value management in Yemen as a monitoring and controlling technique and its relation with the project performance. The both qualitative and quantitative methods were adopted covering unstructured interview and questionnaire. This study conducted both pilot study and pre-test which led to proper instrument used in large-scale survey. Reliability and validity tests applied on the instrument which judged it to be reliable and valid. SPSS IBM 19 analysed the data showing that the Earned value has not understood due to lack of knowledge and wasn’t practiced in the site. Consequently, this led to performance failure. To overcome this issue, the academics and practitioners should study and practice earned value management in Yemen particularly, and in developing countries in general.

A Deliverable-Oriented EVM System Suited to a Large-Scale Project

2006 ◽  
Vol 37 (1) ◽  
pp. 67-80 ◽  
Author(s):  
Pierre Bonnal ◽  
Jurgen De Jonghe ◽  
John Ferguson
Keyword(s):  
Project Management ◽  
Particle Physics ◽  
Large Scale ◽  
Hadron Collider ◽  
Value Management ◽  
Earned Value ◽  
Executive Management ◽  
Earned Value Management ◽  
European Laboratory ◽  
Under Construction

The Large Hadron Collider (LHC) is under construction at CERN, the European Laboratory for Particle Physics, near Geneva, Switzerland. In 2003, a new earned value management (EVM) system was introduced to improve transparency in LHC project reporting, to allow a clearer distinction between cost differences to the baseline due to overruns versus resulting delays, and to provide the project management team with a more reactive project management information system for better decision-making. EVM has become a de facto standard for the follow-up of cost and schedule and several commercial packages are offered for implementing an EVM system. But because none of these packages fulfilled CERN's requirements, its executive management decided to proceed with an in-house development. In this paper, an overview of what CERN considers to be good requirements for an EVM system suited to large-scale projects is provided: the deliverable-oriented, collaborative and lean management dimensions are enforced. In conclusion, we discuss some of our positive and negative experiences so those who would like to develop or implement similar enterprise-wide project control systems can be more aware of common pitfalls.

scholarly journals Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast

Complexity ◽  
2019 ◽  
Vol 2019 ◽  
pp. 1-11 ◽  
Author(s):  
P. Urgilés ◽  
J. Claver ◽  
M. A. Sebastián
Keyword(s):  
Real Life ◽  
Simulation Models ◽  
Power Production ◽  
Value Management ◽  
Management Technique ◽  
Hydroelectric Power ◽  
Earned Value ◽  
Earned Value Management ◽  
Cost Overruns ◽  
Cost Forecasting

All projects take place within a context of uncertainty. That is especially noticeable in complex hydroelectric power generation projects, which are affected by factors such as the large number of multidisciplinary tasks to be performed in parallel, long execution times, or the risks inherent in various fields like geology, hydrology, and structural, electrical, and mechanical engineering, among others. Such factors often lead to cost overruns and delays in projects of this type. This paper analyzes the efficiency of the Earned Value Management technique and its Earned Schedule extension, as means of forecasting costs and deadlines when applied to complex hydroelectric power production projects. It is worth noting that this analysis was based on simulation models applied to real-life projects. The results showed that cost forecasting becomes very accurate over time, whereas duration forecasting is not reliably accurate.

scholarly journals Usefulness and fields of the application of the Earned Value Management in the implementation of construction projects

2014 ◽  
Vol 13 (4) ◽  
pp. 357-364
Author(s):  
Agnieszka Dziadosz ◽  
Oleg Kapliński ◽  
Mariusz Rejment
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Value Management ◽  
Construction Work ◽  
Earned Value ◽  
Earned Value Management ◽  
Cost Overruns ◽  
Total Cost ◽  
The Cost ◽  
Project Realization

The Earned Value Method allows the prediction of future values of the total cost and duration of the construction project realization, and also it allows the early detection of the collisions between the schedule and the construction project budget. It is more often indicated its usefulness for monitoring and controlling the construction work progress in the time and cost formulation. It is used, in the indirect way, to control the risk in terms of the cost overruns of the construction project realization and in case of the failure to meet the deadline for completion of the construction project. The authors’ goal was not only to indicate the advantages of the method (widely discussed in the literature) but also to indicate some inaccuracies in the application of the Earned Value Method, which may affect the costs forecasting and the date of completion of the construction project. The conclusions are based on the analysis of several construction project realizations.

Directed earned value management based on ordered fuzzy numbers

2021 ◽  
pp. 1-14
Author(s):  
Seyed Taha Hossein Mortaji ◽  
Siamak Noori ◽  
Morteza Bagherpour
Keyword(s):  
Fuzzy Numbers ◽  
Lower Cost ◽  
Project Managers ◽  
Value Management ◽  
Monitoring And Control ◽  
Earned Value ◽  
Earned Value Management ◽  
Project Monitoring ◽  
And Control

Earned value management is well-known as the most efficient method of project monitoring and control providing relatively reliable information about the project performance. However, this method requires accurate estimates of the progress of project activities, which are always associated with uncertainties that, if ignored or not addressed well, lead to incorrect results. To address this issue, the application of multi-valued logic, in particular fuzzy logic, in earned value management has recently attracted a lot of attention both in practice and research. This paper introduces directed earned value management (DEVM) in which ordered fuzzy numbers are used to express the so-called uncertainties as well as to capture more information about the trend of the project progress. To evaluate the performance of the proposed method, several numerical examples and a case study are presented. The results reveal that compared to the existing methods, DEVM has a lower computational complexity. Also, it doesn’t suffer from the overestimation effect and as a result, it has a higher ability to express project-specific dynamics. In sum, the proposed method allows project managers to make informed decisions that lead to taking preventive and corrective actions promptly and at a lower cost.

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