Abstract :
In most of the construction projects it has been notice that certain causes may lead to delay in construction activities. This will make time schedule and cost budget overrun in the project. Thus, it has become a major and challenging problem to complete the project on schedule and within the estimated cost. To solve this problem, the concept of construction project management by Earned Value Management System EVMS is evaluated. Earned Value Management EVM is a technique that finds the stage at which cost and time overrun EVM technique acts as an early warning and alarming system for budget and schedule. It not only measures the project performance but also measure the progress of the schedule. In our study we have done Earn Value analysis of a construction project which was completed in the year of 2017, based on project data BOQ, Actual Budget, and Schedule and inputs which have been collected we are able to perform EVA by using Microsoft Project. The analysis helps in finding out the deviations both in cost as well as in time i.e. schedule variance and cost variance. It is an effective tool to measure cost, schedule and performance of the project. The EVA is useful in various fields such as IT, Industries and Construction companies etc. This paper summarizes the evolution, basic terminologies of Earned Value Analysis and effective use of it in the construction industries by Microsoft Project. Khalid Mohiuddin Khan | Mr. Masoom Reza "Earned Value Management for Design and Construction Project" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018, URL: https://www.ijtsrd.com/papers/ijtsrd17029.pdf Paper URL: http://www.ijtsrd.com/management/other/17029/earned-value-management-for-design-and-construction-project/khalid-mohiuddin-khan
Keyword :
Earned Value Analysis, Cost Monitoring, Schedule Monitoring and Microsoft project