20-10-2014, 12:01 PM
Abstracts: Most of the construction projects suffer from cost and time overruns. It is said that “If you can’t measure it, you can’t manage it”. Whether one trusts the validity of this common phrase most of the time or all of the time, measuring the true progress of a project presents a formidable task. Most Projects can and do measure the current cost and compare it to the planned spending. But for a more comprehensive view, how does one measure the progress of a project against the double constraint of cost and schedule. Earned value management (EVM) is a project performance evaluation technique that has been adapted for application in project management. The earned value analysis gives early indications of project performance to highlight the need for eventual corrective action.