Earned Value Analysis for Construction Projects Using Project Management Scheduling Engine

Abstract

One of the most important functions of project management is the monitoring and control of the project process. To perform it, Earned Value Analysis (EVA) in project management is a well-known management system to be applicable. This analysis is a very significant technique to measure and control the performance and progress of a project and is used in various sectors. It allows the calculation of cost and timing variances and performance indices and predicts project cost and project duration estimation. In addition, the usage of the correlation between the schedule performance index and cost performance index and the meaning of indices such as budgeted cost of work scheduled, budget cost of work performed, and the actual cost of work performed is illustrated in detail to analyze the performance of EVM application in the project management. Thereby, in this study, some of the work items of a sample project using Microsoft Office Excel were evaluated according to the Earned Value Analysis and the result implies that the analysis helped the project perform better through the cost and schedule indices.