Cost Analysis of Construction Building by Earned Value Method Using MS Project Software
7 Pages Posted: 2 Jan 2020 Last revised: 23 Jul 2020
Date Written: May 17, 2019
Earned value management is the utmost common method used in study of performance of the project. EVM incorporates the project possibility, budget and agenda processes to promote the project management crew to measure project performance from beginning to the end of the project. It is capable of providing exact predictions of project performance complications, which is an essential role for project management. EVA is reliant to two important elements such as detailed cost info and practical development of project. The profit of the project will get esteemed absolutely if these two elements are well-organized. This paper summarizes the evolution, basic terminologies of earned value analysis and effective use of it in the construction activities by using MS Project Software. There are many ways to implement EVM in the construction industry. MS Project is a software to define the earned value and its factors in an effective method with exactness and within time limits.
Keywords: Earned value, Cost control, schedule variance, cost variance, tracking
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