Open AccessUsefulness and fields of the application of the Earned Value Management in the implementation of construction projects
Author(s) -
Agnieszka Dziadosz,
Oleg Kapliński,
Mariusz Rejment
Publication year - 2014
Publication title -
budownictwo i architektura
Language(s) - English
Resource type - Journals
eISSN - 1899-0665
pISSN - 2544-3275
DOI - 10.35784/bud-arch.1869
Subject(s) - earned value management , schedule , realization (probability) , duration (music) , project management , risk analysis (engineering) , pre construction services , work (physics) , construction management , computer science , value (mathematics) , operations research , project management triangle , operations management , construction engineering , engineering , systems engineering , civil engineering , business , project charter , mathematics , statistics , mechanical engineering , art , literature , machine learning , operating system
The Earned Value Method allows the prediction of future values of the total cost and duration of the construction project realization, and also it allows the early detection of the collisions between the schedule and the construction project budget. It is more often indicated its usefulness for monitoring and controlling the construction work progress in the time and cost formulation. It is used, in the indirect way, to control the risk in terms of the cost overruns of the construction project realization and in case of the failure to meet the deadline for completion of the construction project. The authors’ goal was not only to indicate the advantages of the method (widely discussed in the literature) but also to indicate some inaccuracies in the application of the Earned Value Method, which may affect the costs forecasting and the date of completion of the construction project. The conclusions are based on the analysis of several construction project realizations.