A Study on Implementing Earned Value Management (EVM) Theory to Construction Project for Cost and Schedule Control
Date Issued
2009
Date
2009
Author(s)
Shiao, Fu-Te
Abstract
Scope, time and cost are the three key points that project management revolves around. These key points compose the “triple constraints” of a project. Regardless of the contract type, the core objective of project management is to facilitate the successful completion of projects within the triple constraints. For a contracted construction project, the triple constraints are absolutely crucial due to the restriction from the contract other than the unique construction environment itself. As a result, many invisible risks are embedded inside a construction project that must be carefully dealt with.arned Value Management (EVM) has been generally recognized as an effective methodology for integrating the management of above mentioned triple constraints. This research studies the practice for implementing EVM to a construction project for its cost and schedule control from a contractor’s point of view. This thesis is mainly organized into three parts, EVM lead-in procedure, case-study, and the problems on applying EVM and suggestions for solution. It is expected that the outcome of this research may facilitate the development of a realistic EVM System (EVMS), and hence to mitigate the project risk and promote the project performance.or combining the theory with practice, this research considers the real construction environment and refers to ANSI/EIA-748-A Standard for EVMS and the prevailing global project management standards during the EVM lead-in procedure. On the case-study of EVM application, except for verifying the reasonability of the EVM lead-in procedure by real case, this research also studies the management meaning of various performance indexes resulted from the EVMS and the relations among these indexes. The research results will be provided as a feedback for future projects.inally, this research classify and study some distortion problems encountered while implementing EVM under some different project management models and contractual environments .The research also makes suggestions for adjustment on the problems in order that the project will perform the EVM more accurately and more effectively, and then enhance the visibility on management.
Subjects
Project management
Earned Value
Earned Value Management
Performance Measurement
EVM
Type
thesis
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