Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/7610
Title: Enhanced earned value management on practical construction projects through constrained project scheduling simulations
Authors: Siu, MF
Lu, M
Keywords: EVA
Performance index
Scheduling
Total float
Project time extension
Cost overrun
Issue Date: Jul-2011
Publisher: Faculty of Construction and Land Use, Hong Kong Polytechnic University
Source: Proceedings : 3rd International Postgraduate Conference on Infrastructure and Environment, v.2, p. 605-612 How to cite?
Abstract: The Earned Value Management (EVM) techniques are commonly used for tracking construction project cost and schedule performances. The work completed on activities in the project network model is quantified to provide a basis for comparing as planned and actual performances in terms of time and cost. The aim is to detect any cost and schedule deviations and take timely corrective measures so as to control project delivery under budget and ahead schedule. However, it is not straightforward to apply EVM to track and control practical construction projects, subjected to tight constraints on technology, resource and space. This research is mainly focused on applying EVM on constrained (resource and calendar) construction scheduling subject to activity delays and project time extensions in order to reveal EVM limitations. A geotechnical investigation construction project provides a case for defining problems and formulating solutions. The results prove that the EVM does not well account for total float, project time extension and non-productive cost in practice; while, the forecasting technique used in EVM is insufficient to detect any delays that occur and cause project time extension and cost overrun on the project. This research has formulated project scheduling simulations which enhance EVM and facilitate its applications by conducting precise schedule and cost analysis in support of the EVM. As such, project managers can effectively track, monitor and control project status as the construction progress unfolds continuously.
URI: http://hdl.handle.net/10397/7610
ISBN: 978-988-17311-7-3
Rights: © 2011 Faculty of Construction and Land Use, The Hong Kong Polytechnic University.
Appears in Collections:Conference Paper

Files in This Item:
File Description SizeFormat 
Siu_Enhanced_Earned_Management.pdf1.18 MBAdobe PDFView/Open
Access
View full-text via PolyU eLinks SFX Query
Show full item record

Page view(s)

88
Last Week
2
Last month
Checked on Aug 13, 2017

Download(s)

36
Checked on Aug 13, 2017

Google ScholarTM

Check



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.