Earned Value Management For Design and Construction Project

Download as pdf or txt
Download as pdf or txt
You are on page 1of 21

International Journal of Trend in Scientific

Research and Development (IJTSRD)


International Open Access Journal
ISSN No: 2456 - 6470 | www.ijtsrd.com | Volume - 2 | Issue – 5

Earned Value Management for Design and Construction Project


Khalid Mohiuddin Khan1, Mr. Masoom Reza2
1
Design Engineer, 2Assistant Professor
Department of Civil Engineering, Al-Falah School of Engineering and Technology,
Al-Falah University, Dhauj, Faridabad, Haryana, India

ABSTRACT 1. INTRODUCTION
In most of the construction projects it has been notice 1.1 GENERAL:
that certain causes may lead to delay in construction In the age of construction and development, the
activities. This will make time/schedule and project manager needs strict controlling and tracking
cost/budget overrun in the project. Thus, it has of the construction project. Monitoring and Tracking
become a major and challenging problem to complete of project is the most important element in project
the project on schedule and within the estimated cost. management. It concerns with measuring the progress
To solve this problem, the concept of construction performance of Project at a certain period and time
project management by Earned Value Management interval and reports that performance to the
System (EVMS) is evaluated. Earned Value organization for process control. After getting such
Management (EVM) is a technique that finds the tracked information, the concerned authority decides
stage at which cost and time overrun; EVM technique to take further action to control and command the
acts as an early warning and alarming system for project before it becomes impregnable. Thus,
budget and schedule. monitoring, tracking and controlling are most
important component process throughout the entire
It not only measures the project performance but also life of the project.
measure the progress of the schedule. In our study we
have done Earn Value analysis of a construction The progress of under-construction project can be
project which was completed in the year of 2017, evaluated by using a different conventional approach
based on project data (BOQ, Actual Budget, and like day to day monitoring/tracking, monthly or
Schedule) and inputs which have been collected we weekly or biweekly management review meetings,
are able to perform EVA by using Microsoft Project. performance reviews, key performance indicators,
The analysis helps in finding out the deviations both project audit reports etc. In these conventional
in cost as well as in time i.e. schedule variance and approaches, usually, there are two data sources, the
cost variance. It is an effective tool to measure cost, budget (or planned) expenditures, and the actual
schedule & performance of the project. The EVA is expenditures. The comparison of budget versus actual
useful in various fields such as IT, Industries and expenditures merely indicates what was planned to be
Construction companies etc. This paper summarizes spent versus what was actually spent at any given
the evolution, basic terminologies of Earned Value time and also, how much has been produced. With
Analysis and effective use of it in the construction this approach, there is no way to determine the
industries by Microsoft Project. physical amount of work performed. It does not
indicate anything about what has actually been
KEYWORDS: Earned Value Analysis, Cost
produced for the amount of money spent nor whether
Monitoring, Schedule Monitoring and Microsoft
it is being produced at the rate, or according to the
project
schedule, originally planned. Based on these
limitations of conventional performance measurement
tools, this paper discusses earned value analysis

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1482
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
(EVA) technique as an effective tool for tracking and strategies to small as well as big IT projects. The
controlling of construction projects. It is a project analysis in this method can be initiated on any level
control method which integrates the cost, schedule hierarchy of work and work breakdown structure and
and technical performance. Many public-sector can be used by clients, researchers, scholars and
contractors are working on project-oriented principle contractors.
or project to project basis. Problems in completing
project are often related to on time and on budget The method, work very accurately and efficiently, but
completion and for public sector contractors, there is requires a consistent approach for collection of data
more publicity when something goes wrong and and algorithms on project cost and progress (on
unplanned. Hence, public sector agencies are weekly and biweekly basis) and the findings are to be
demanding on EVMs. EVM is a approach to help processed immediately.
project manager and projects come to successful
completion whether projects are from construction 1. The main objective of using EVA technique is to
industries, information technology, software find out and detect any mismatch during any stage
development or Hospitality Industry. EVM is treated of construction as soon as possible, so that there is
as one of the most useful, powerful and productive plenty of time in hand of project managers to
concepts used for managing today’s complex projects asses if the mismatch is dangerous for the project
in private, commercial or public-sector environments. and, if necessary, precautions and corrective
It has the ability to combine measurements of scope, actions can be taken.
schedule, and costs. It is a single integrated 2. To find out the reason behind the delay of project,
multifunctional system. Using EVM the project with respect to project budget and project
controller can assess how ahead or behind schedule schedule.
the project and if the project is over budget or under 3. Analyse the actual profit and loss of the project.
budget.
2. LITERATURE REVIEW
1.2 OBJECTIVE: 2.1 GENERAL:
The Earned Value method or technique has been Literature Review pertaining to similar studies
developed as a tool or technique to track and control conducted all over the world is collected from various
the project. It is helpful and useful for getting a sources to determine the feasibility and scope of the
project’s status at any stage (Whether it is lag behind work. Similar studies undertaken are as follows:
or away of schedule? Whether is it out-off or under ➢ T. Subramani, D. S. Stephan Jabasingh, J.
budget or estimate?) and the scale of current variances Jayalakshmi (2014): Discuss the main
from the plan. Moreover, it helps a project manager to parameters involved in the calculation and
make decisions and make comparisons on the final analysis of Earn value analysis and cost
effect of the project in the manner of cost and, to controlling in construction project by using
some extent, in the manner of time and duration, by software like Primavera and MS projects. [1]
comparing present trends. ➢ Ray W. Stratton, EVP (2007): Discuss about the
earn schedule, earn schedule analysis for
This technique is very simple and unique: it presumes estimating the completion date of the construction
a simplified model of a project or work, and the project and also compare the conventional method
estimation require nothing but few and four basic of scheduling and budgeting. [2]
arithmetic operations and elements like addition, ➢ Dr. Arun Dhawale1 Vaishnavi Tuljapurkar
subtraction, multiplication and division. Because of its (2015): In this paper discussion is done on Cost
ease of working and simple arithmetic calculations, control and tracking of a building construction
with progressive and real time results this technique project by earned value method. The Earn Value
has been accredited as a very effective and useful tool Analysis is dependent on two key areas i.e. precise
by many project managers, companies and public- cost information and pragmatic progress of
sector agencies and has become a bench mark and project. If two key areas are efficient for a project
standard in project management and operations. This to get benefitted. [3]
technique is very versatile enough, it can be work and ➢ Andrew Fernans Tom1, Sachin Paul (2013):
applied on any type of project of any sector it can The present study deals with the project
work from defence sector and helps in making their monitoring process of “Standard Design Factory”.

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1483
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
A comparison between the planned progress of forecast the duration needed to complete the
construction work and actual progress is project. [8]
performed in this study using project management ➢ Sandhya Suresh, Ganapathy Ramasamy N
software Primavera P6 to make the calculations (2015): This paper discusses the Analysis of
easy. [4] Project Performance Using Earned Value Analysis
➢ ANUJ DUBEY (2015): In this paper the EVM provides more perception about the costs
discussion is on Cost over-runs and time over-runs and other elements of scope, risks, performance
are prevalent in most of the projects carried out in etc. It inspires the management team to pay more
developing nations such as India. There may be attention to cost, schedule and progress with more
multiple reasons for these overruns. In order to intensity and optimizes the project. [9]
reduce them, there should be efficient use of the ➢ Lipke Walt et al (2007): In project management
construction software’s available in the market. Institute (USA), Earned Value and Earned
This paper emphasises the use of these software’s Schedule was applied and study was carried on by
to reduce these issues by the use of a scientific Lipke Walt. It has been concluded that EVM with
technique called earned value analysis. [5] ES provides incredible management information
➢ Ms. Radhika R. Gupta, Prof. Parag S. which helps in project management.
Mahatme, Prof. Taran C. Bhagat (2015): This ➢ Knedrik et al (2004): Said EVM is complex but
paper discusses the cost controlling and it has a simple foundation. It helps in tracking the
monitoring of construction project through earned performance of a project by simple arithmetical
value management system their benefits and calculation, for projects of larger volume software
future scope. On comparing Earned Value like MS project can be used
Management method to traditional management,
traditional management does not allow for 2.2 HISTORY:
analysis of physical amount of work performed. Every project manager focuses on the point that the
Earn value management allows both schedule cost project should be within the budget and within the
analysis against physical work performed. [6] cost and how could this be done. It may happen that
➢ Shu CHEN and Xueqing ZHANG (2012): The project may be out-off time or out-off budget, to
review undertaken in this paper covers popular calculate this time versus budget consequences expert
research directions in the EVM area. The paper mathematical tools are required. So, to overcome this
introduces a description of the background of problem Earn Value Management is the technique to
EVM, including its terminologies, performance be applied in the construction, IT, defence and
analysis and forecasting measures, and advantages hospitality sectors etc. In 1960s, but it has become an
as well as disadvantages of EVM. The important branch of project management and value
classification system made for organizing the engineering. Project management research
retrieved studies is developed. In empirical investigating the contribution of EVM to project
studies, case studies were used to highlight the success suggests a moderately strong positive
driving and impeding factors for effective relationship. Implementations of EVM can be scaled
implementation of EVM while a large number of to fit projects of all sizes and complexities.
project data analysed to portray the behaviours of
CPI and investigate the accuracy of cost Every project manager and project controller efforts
forecasting techniques. In non-empirical studies, that the project should be within the budget, within
models and simulation methods have been used to the cost, within planned schedule and how this could
improve the capability of EVM. [7] be achieved. Possibilities may happen that project
➢ Rajesh Ganpat Virle and Sumedh Y Mhaske may be over schedule or over budget, to calculate this
(2013): Earned Value Management is a powerful effective mathematic tool and complex algorithms are
methodology that helps executive, project required. So, to handle this problem EVA is the
manager, program manager and other stakeholders technique to be applied in the construction projects
of the project to manage the project more and other projects too. EVM emerged as a financial
effectively. Earned Schedule is an important analysis tools specialty in United States Government
extension to EVM that allows EVM metrics to be programs in the 1960s, but it has since become a
transformed to time or duration metrics to enhance significant and an effective branch of project
the evaluation of project schedule performance, management, project controlling, and cost

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1484
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
engineering. Project management research happen to work in the future (can be calculated on
investigating the contribution of EVM to project basis interpolation). Earned value management is an
success suggests a moderately strong positive “early warning and alarming system” for planning,
proportion. EVM technique can be implemented to controlling and monitoring the project cost
projects of all ranges, sizes and intricacies. performances and benefits. EVM establish work
packages earned value baseline by integrating project
The origin of EVM occurred in industrial scope, time schedule and cost objectives. This
development at the end of the 20th century, this baseline is called as cost control and is used for
method is based significantly on the principle of performance evaluation of a project on a given date.
"earned time" the concept took root in the United
States Department of Defence in the 1960s. This came Analysis of deviation and trends from the baseline
from the original concept called PERT/COST, but it provides the cost related information’s for problem
was considered overly cumbersome (not very determination, current and past trend analysis and
adaptable) by project managers who were mandated corrective actions such as re-planning, re-allocating
to use it, and many variations of it began to proliferate and revising the cost and budget and re-scheduling.
among various procurement programs. In the late Earned value analysis serves two main purposes.
1980s and early 1990s, EVM comes as a project ➢ It analyses and determines cost changes which are
management technique to be understood and used by resulting in duration and budget over-run or
managers and executives, not just by EVM specialists. under-run so that timely precautionary actions are
In 1989, EVM leadership was elevated to the taken such as revision and modification of cash
Undersecretary of Defence for Acquisition, thus flow, reevaluating financial projections, trends
making EVM an essential element of program and forecast and project success and profitability
management and procurement. The construction projections.
industry was an early and quick commercial adopter ➢ Analysis of deviation from the baseline data using
of EVM. The EVM used very commonly and earned value technique and systems gives a
accelerated in the 1990s. In 1999, the Performance variety of variances and deviations which are used
Management Association merged with the Project to provide and determine the current status of the
Management Institute (PMI) to become PMI’s first project, to initiate corrective actions and to
college, the College of Performance Management. forecast future success trends.
The United States Office of Management and Budget
began to mandate and recommend the use of EVM 2.4 BASIC TERMINOLOGY:
across all public-sector agencies, and, for the first The basic terms associated with Earned Value
time, for certain internally managed projects (not only Management:
contractors and govt agencies). ➢ Budgeted Cost for Work Scheduled (BCWS) /
Planned Value (PV): It is the amount of money
2.3 DESCRIPTION: budgeted to be spent at a particular point in time.
Earned Value analysis is a method of performance ➢ Budgeted Cost for Work Performed (BCWP) /
measurement. Earned Value is a program Earned Value (EV): It is the amount of work in
management technique that uses “work in progress” terms of cost that is actually accomplished at a
to indicate what will happen to work in the future. particular point of time with respect to the planned
Earned value management is an “early warning value.
system” for planning and controlling the project cost ➢ Actual Cost of Work Performed (ACWP) /
performances. EVM establish work packages earned Actual Cost (AC): It is the actual amount of
value baseline by integrating project scope, time money spent for the corresponding planned and
schedule and cost objectives. This baseline is called as earned value.
cost control and is used for performance evaluation of ➢ Cost Variance (CV): It helps to measure project
a project on a given date. performance. Cost variance (CV) indicates how
much over or under budget the project is. A
Earned Value analysis is a method and technique of positive value indicates a favourable condition and
performance evaluation and measurement. Earned a negative value indicates an unfavourable
Value is a program management-based technique that condition It is the difference between Earned
uses “work in progress” and used to indicate what will Value and Actual Cost.

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1485
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
CV = EV – AC EACt = (BAC / SPI) / (BAC / months)
➢ Schedule Variance (SV): It indicates how much
ahead or behind schedule the project is. A positive 2.5 S-CURVE:
value indicates a favorable condition and a “S Curves” are great mathematical tool to track
negative value indicates an unfavourable project progress in terms of time and cost and it is
condition. It is the difference between Earned also known as a time-cost curve. It is a graphical
Value and Planned Value. representation of financial forecast, cash flow of a
SV = EV – PV project. It is derived from activity usage profile, and it
➢ Cost Performance Index (CPI): It is a measure shows an S-like shape, flatter at the beginning and end
of cost efficiency on a project. A value equal to or and steeper in the middle. This shows that costs
greater than one indicates a favorable condition involved in the project are low in the beginning as
and a value less than one indicate an unfavourable well as in the end, whereas it increases at a rapid rate
condition. It is the ratio between Earned Value when the project is in its middle stage. EVM is
and Actual cost. graphically represented as below
CPI = EV / AC
If CPI < 1: The project is running over budget,
If CPI >1: The project is running under budget,
If CPI=1: the project is running on a budget.
➢ Schedule Performance Index (SPI): It is a
measure of schedule efficiency on a project. An
SPI equal to or greater than one indicates a
favourable condition and a value of less than one
indicates an unfavourable condition. It is the ratio
between Earned Value and Planned Value.
SPI = EV / PV
If SPI < 1: The project is running behind planned
schedule,
If SPI >1: The project is running ahead of planned
schedule,
If SPI=1: the project is running on planned
schedule. Figure 1 S-CURVE EVM
➢ Critical Ratio (CR): It is the product of Cost
Performance Index and Schedule Performance 2.5 ADVANTAGES OF EVMS:
Index. It indicates the overall performance of the 1. EVA can be done weekly, bi-weekly and
Project with respect to both cost and time. periodically; management tries to make sure that
CR= CPI * SPI all the project parameters are on track.
➢ Estimation at Completion (BAC): It’s a 2. It is used to measure and predict progress of
prediction of the total project cost based upon the ongoing project.
current trends in project performance. It is the 3. It is the only method which tracks the project and
ratio of the Budget at completion and cost work in terms of progress, duration/time and
performance index. cost/money.
EAC= BAC / CPI 4. It helps the project manager to make the project to
➢ Variance at Completion (VAC): It is the be on time and on a budget.
difference between the planned budgets at the 5. The cost performance index (CPI) and schedule
beginning of the project to the Estimate at performance index (SPI) provides an early
Completion. This value denotes how much more warning signal.
profit or loss the contractor will make on that 6. It can be applied to any construction project and
Project. other project at any time and it gives impressive
VAC= BAC-EAC results in large construction project.
➢ Time Estimate at Completion (EACt): It 7. Time to time performance measurement makes
predicts the completion time of a Project based on sure that steps can be taken to the bring project
its current performance. back on track as per planned schedule.

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1486
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
2.6 DISADVANTAGE / DRAWBACKS OF Steps involved in monitoring and controlling of the
EVMS: project in Microsoft Project are:
1. In Earn Value management system and analysis 1. Creating new projects:
quality doesn’t take in to consideration. The project is created under the respective divisions in
2. To solve and make relationship between cost, Enterprise Project Structure (EPS) and assigned the
duration and budget complex calculations are to person in charge from Organisation Breakdown
be solve which can be done by software. Structure (OBS) to it. The project can be given
3. EVA is required to be carried out at different planned start and must finish dates. The project is
stages as the uncertainty may occur anytime assigned a calendar which can be global, resource or
throughout the project. project calendar.
2. Define Work breakdown structure (WBS):
3. METHODOLOGY WBS is a hierarchy of project that must be
3.1 GENERAL accomplished to complete a project. Each WBS
The construction and operations projects have become element may contain more detailed WBS levels,
so large and complex, it become very difficult to find activities, or both.
out the actual progress of project at any time by using 3. Creating Calendars:
conventional methods and calculations. To solve this Calendars are the most important source for defining
many IT companies have started developing software the baseline and for tracking to project i.e. the project
for project management which helps in doing is behind the schedule or not. It can be created as a
complex calculation in very simple manner, project global, resource or project calendar.
management and planning software such as 4. Defining activities:
Primavera P6, Microsoft Project, etc. are very Activities are the fundamental work elements of a
popular. project and form the lowest level of a WBS and are
the smallest subdivision of a project. An activity has
3.2 METHODOLOGY FOR EARN VALUE the following characteristics like activity ID, name,
ANALYSIS start and finish dates, activity calendar, activity type,
Our study and analysis involve Earned value analysis activity codes, constraints, expenses, predecessor and
of the building project using Microsoft Project. The successor relationships, resources and roles etc.
progress at the site must be incorporated in the 5. Defining activity duration:
Microsoft Project schedule and updated. These When planning the work, the duration is entered in the
updates need to be thoroughly monitored using original duration field. The actual duration can only
Microsoft Project. The work breakdown structure be entered for the activities, which are completed.
(WBS) for the project is created and several activities 6. The relationship between activities:
are identified. The following recommended steps for To form a network, the activities should be connected
the successful implementation of earned value to each other, which is done by assigning preceding
analysis: and succeeding activities with a significant
relationship to the activities.
TABLE 3.1 STEPS IN EARN VALUE ANALYSIS A. Finish to Start (FS) relationship.
S. No Steps B. Finish to Finish (FF) relationship.
1 Create Project C. Start to Start (SS) relationship.
2 Define WBS D. Start to Finish (SF) relationship.
3 Creating Calendars 7. Perform scheduling:
4 Define Activities Scheduling is to perform that all the activities must be
5 Appoint Activity Durations schedule as according to the relationship between the
6 Assign Logic Links various activities. It is simply performed by pressing
7 Perform Scheduling the F9 button.
8 Allocating Resources/budgeting 8. Allocating resources and budget:
9 Creating Baselines Resources are allocated in the resource sheet as a
10 Updating Schedule labourer, material, and non-labour resources and the
price is allocated to the various resources as per unit.
11 Earned value analysis
Labour and non-labour resources are always time-

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1487
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
based, and material resources such as consumable complete and put a tick mark if the activity has been
items, use a unit of measure which can be specified. completed.
Resources are different than expenses. While F. Feedback
resources can be time-based and generally extend Inactivity details window, select feedback tab. Then
across multiple activities or projects, expenses are the details for the resources have to be mentioned in
one-time expenditures for non-reusable items required feedback.
by activities. After defining resources, they are to be G. Work products and documents (WPs & Docs)
allocated to their respective activities. While Budget In activity details window, select the WPS & Docs
is to be allocated from the expense tab to various tab. Then the drawings, documents, specifications
activities. have to be uploaded here.
9. Creating baselines: 13. Weekly updates to be made:
A simple baseline plan is a complete copy of the A. Threshold
original schedule which provides a target against In the directory, bar chooses threshold tab. Then 3
which a project’s performance is tracked. variances are to be monitored regularly; finished date
10. Updating schedule: variance, start date, variance, and cost variance.
A. If the project is progressing exactly as planned, B. Issues
then only needed to estimate progress. In the directory, bar chooses project issues. The
B. If the project is not progressing as planned many values which fall outside the threshold values are
activities are starting out-of-sequence, actual indicated in the issues. The contractor also has to add
resource use is exceeding planned use, and then issues if there are any.
update should be done for activities and resources C. Reports
individually. Choose tools. Then choose the data date which we
C. Most projects contain some activities that progress want to update the progress. All the activities done in
as planned and some which do not. In this case, that week has to be selected. Then select update
the best method is to combine the two updating progress.
methods. 14. Earned value:
11. Preliminary steps to be done in updating: Earned value is a method or technique use to
Choose project, maintain baseline. Then add and save determine project performance according to both
a copy of current project as a new baseline B1. Then project value, duration and schedule. The technique
choose project baseline as B1 and assign primary makes comparison between the budgeted cost of the
baseline as B1. work to the actual cost. The earned value of the work
12. Daily updates to be made: or project has been estimated after including the
A. Start date and end date actual cost of each activity inclusive of expenditures.
Choose the activity to be updated. Then in the activity
details window, select the status tab. Then tick mark In Microsoft Project, the Earned Value Analysis is
started if the activity has been started and select the done by adding columns of planned value, actual
date. Tick mark finished if the activity has been value, budgeted value, cost variance, schedule
finished and select the finish date. variance, cost variance, budget at completion, and
B. Resource variance at completion and estimate at completion. So
Inactivity details window, select resource tab. Then from the data obtained by the Microsoft Project, we
select the resources which are to be added to the do the analysis according to the process as mentioned
particular activity in the literature review and according to that, we plan
C. Code for the remaining project.
Inactivity details window, select code tab. Then select
the activity code for each resource. 3.3 CORRECTIVE ACTIONS:
D. Notebook In the case of time over-run, we have to review the
Inactivity details window, select notebook tab. Select schedule of activities, re-examine their
the topic which we want to note and write the details interdependencies, explore the possibilities of
in notebook topic. crashing the activities in the critical path, by
E. Steps increasing/reallocating available resources, draw
In activity details window, select steps tab. Then if the revised schedule in an attempt to minimize the
activity has any steps update the activity in percentage

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1488
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
slippage. This has to be a continuous process rather priority, most critical activity getting the top priority
than a one-time correction. in the matter. The attempt would be to redistribute the
resources without incurring time overrun. If
In the case of cost overrun, we review the impossible, we would try to keep it to the least
planned/budgeted cost estimates to complete the possible value.
project and possibilities of cost reduction by
crashing/decompression of activities, postponing 3.4 ORGANIZATIONAL BREAKDOWN
allocation of resources to non-critical activities to the STRUCTURE OR OBS
extent possible, reduction in resources considered OBS is a hierarchical model describing the
redundant and other feasible means. In real life established organizational framework for project
situations, we are sometimes confronted with the planning, resource management, time and expense
problem of matching the schedule with limited tracking, cost allocation, revenue/profit reporting, and
resources, e.g. manpower, funds, etc. In such a case work management. The OBS for the undertaking
we reallocate resources to activities, in order of Project is shown below: -

Figure 2 Organisational Breakdown Structure

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1489
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470

4. EARN VALUE ANALYSIS


4.1 SCHEDULING
From the bill of quantities, we have prepared the schedule of the project. In the schedule, we assign the
relationship to all the activities related to the project and define the code for the work breakdown structure
WBS.

Figure 2: WBS1

Figure 3: Work Breakdown Structure

4.2 RESOURCE ALLOCATION


All the resource is allocated according to the resource sheet and BOQ, which will further help in finding out the
actual cost of the project. In the below table the reinforcement and concrete quantity of every floor are
calculated as per the drawings available from the site and BOQ.

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1490
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
Table 4.1: Quantity of every floor are calculated as per the drawings
Floor Reinforcement Concrete

76.62-ton column 250 cum M50 column


Ground Floor
82.48-ton slab 1200 cum M40 Slab
38.07-ton column 150 cum M50 column
First Floor
41.87-ton slab 450 cum M40 Slab
36.61-ton column 200 cum M50 column
Second Floor
57.67-ton slab 600 cum M40 Slab
28.33-ton column 200 cum M50 column
Third Floor
57.61-ton slab 600 cum M40 Slab
29.10-ton column 200 cum M50 column
Fourth Floor
58.25-ton slab 600 cum M40 Slab
28.83-ton column 200 cum M50 column
Five Floor
58.19-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Six Floor
58.52-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Seventh Floor
60.62-ton slab 630 cum M40 Slab
28.65-ton column 200 cum M50 column
Eighth Floor
58.52-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Ninth Floor
58.52-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Tenth Floor
58.52-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Eleventh Floor
60.62-ton slab 630 cum M40 Slab
28.65-ton column 200 cum M50 column
Twelfth Floor
58.52-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Thirteenth Floor
58.52-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Fourteenth Floor
60.62-ton slab 630 cum M40 Slab
28.65-ton column 200 cum M50 column
Fifteenth Floor
58.52-ton slab 600 cum M40 Slab
28.65-ton column 200 cum M50 column
Sixteenth Floor
58.52-ton slab 600 cum M40 Slab

4.3 TARGET AND DELAYS


Earned Value Analysis required both the baseline completion date which we also refer as the completion date
as mentioned in the master schedule and the actual completion at which actual work had been completed on the
site. As it helps us to know that our project is running as per the master schedule or not. This tells us that which
activities take more time and which are the most critical activities and according to this the further catch-up
plan was prepared to bring the project within the dates mentioned in the master schedule.

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1491
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
Table 4.2: Catch-Up Plan as Per Schedule Master Schedule
Activity Baseline Completion Actual completion Remarks
Excavation 16.09.2015 Completed Completed
Soiling 24.12.2015 Completed Completed
PCC 24.12.2015 Completed Completed
Raft (East side) 24.01.2016 24.01.2016 Completed
Raft ( West Side) 21.02.2016 21.02.2016 Completed
Retaining wall 19.02.2016 25.03.2016 Completed
GF - Slab casting 15-03-2016 20.03.2016 Completed ( 5 days delay)
FF – Slab casting 27.03.2016 05.04.2016 Completed ( 9 days delay)
SF – Slab casting 08.04.2016 20.04.2016 Completed ( 12 days delay)
TF – Slab casting 20.04.2016 04.05.2016 Completed ( 14 days delay)
Fourth Floor Slab 03.05.2016 16.05.2016 Completed ( 13 days delay)
Fifth Floor Slab 15.05.2016 31.05.2016 Completed ( 16 days delay)
Sixth floor slab 27.05.2016 06.12.2016 Completed (16 days delay)
Seventh floor slab 08.06.2016 22.06.2016 Completed (14 days delay)
Eighth-floor slab 20.06.2016 02.07.2016 Completed (12 days delay)
Ninth floor slab 02.07.2016 12.07.2016 Completed (10 days delay)
Tenth-floor slab 14.07.2016 22.07.2016 Completed (8 days delay)
Eleventh floor slab 26.07.2016 08.01.2016 Completed (6 days delay)
Twelfth-floor slab 07.08.2016 13.08.2016 Completed (6 days delay)
Thirteen-floor slab 20.08.2016 24.08.2016 Completed (4 days delay)
Fourteenth floor slab 01.09.2016 04.09.2016 Completed (3 days delay)
Fifteenth floor slab 13.09.2016 15.09.2016 Completed (2 days delay)
Sixteenth floor slab 25.09.2016 26.09.2016 Completed (1-day delay)
Terrace floor slab 08.10.2016 07.10.2016 Completed (1 day earlier)

4.4 CATCH UP PLAN


Initially the project was running in time as per the planned schedule, the project got delayed from the ground
floor slab and up to the sixth floor the delay was up to 14 days from the master schedule, so to catch the project
on time as well as cost this catch-up plan is implemented so that the project can be completed on time. As per
the revised catch-up plan we were able to catch the delayed schedule with the master schedule at the
completion of the sixteenth-floor slab.

Figure 4: Crushing of Activities

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1492
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
In the above figure, we crunched the column and the shear wall activity from seven days to six days, by using
aluminium formwork instead of steel formwork for the shear wall formwork and the slab reinforcement from
six days to five days by deploying the steel fitter and fitter helper from the diagonal directions, hence the slab
cycle was reduced from twelve days to ten days. The picture shown below is showing when we are going to
catch-up the milestone finish date

Figure 5: Catch-up Plan

4.5 LABOUR PRODUCTIVITY


The labor productivity of the typical 2nd floor with the duration and the quantity is calculated and according to
the output of the labor productivity of the 2nd floor, we counted the number of labors for the upper floor taking
the same productivity up to the 4th floor.

Table 4.3: Labour Productivity


Sr. Activity Quantity Duration No of Labour Labour
No. Productivity
1. Columns and shear wall 36.61 ton 5 days Steel fitter=40 15.25 kg/hr
reinforcement Fitter helper=20
2. Column and shear wall shuttering 1670 m2 5 Carpenter= 14 1.98 m2/hr
Helper= 7
3. Slab and Beam Reinforcement 57.67 ton 5 Steel fitter= 50 18.02kg/hr
Fitter helper=
30
4. Slab and Beam Shuttering 2800 m2 7 Carpenter= 25 1.4 m2/hr
Helper = 15

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1493
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
Afterwards due to the delay in shear wall activity we replaced the steel formwork with the standard ballax so
that it helps in increasing the labour productivity for the shear wall from 1.98 sq.m per hour to 2.48 sq.m per
hour, which helps us to do the required amount of shuttering work within 4days and with the same number of
labour. As it comes in the panel so first time just coupled them according to the required size so that it can be
similarly used in all typical floors helps in fastening the work.

4.6 TRACKING OF PROJECT IN THE MIDDILE OF THE WORK


Construction of a Basement + GROUND FLOOR+ 16 floors residential building of Total Floor Area -36374.05
Sqm (Basement – 3593.14 Sqm + GF – 1238 Sqm +Upper floors – about2100 Sqm)

Total Built up Area – 27892.67 Sqm (as per Architectural drawings issued for info) The residential building has
parking in the basement and at the ground floor Basement – 5450 mm; 4250 mm for upper floors. The budget
of the building is around Rs. 250,596,083.95. The duration for completion of the work is 20 months.

Table 4.4: Project Budget Complete

Sr. Reporting period Work Progress Planned Value Earned Value Actual Cost
No PV
1 1/4/2015 to Pre-construction phase 830,000.00 830,000.00 830,000.00
18/8/2015
2 19/8/2015 to Sub-Structure 9,297,360.00 9,297,360.00 9,297,360.00
31/12/2016
3 1/01/2016 to Up-to Ground Floor Slab 18,998,620.00 18,998,620.00 18,998,620.00
28/2/2016 R/f
th
4 1/03/2016 to Up-to 4 Floor Column 64,860,951.69 64,860,951.69 65,111,166.69
30/4/2016 Casting
th
5 1/05/2016 to Up-to 9 Floor Column 113,261,210.29 113,261,210.29 113,511,543.57
30/6//2016 Casting
6 1/07/2016 to Up-to 14th Slab 169,183,015.24 169,183,015.24 169,191,172.19
31/8/2016 Reinforcement
7 1/09/2016 to Up-to 4th LMR Slab 234,098,021.45 234,098,021.45 233,993,733.24
31/10/2016
8 1/11/2016 to Finishing Work 239,707,188.11 239,707,188.11 239,602,115.53
31/12/2016
9 1/01/2017 to Handing over 249,596,083.00 249,596,083.00 249,491,795.74
05/2/2017

Table 4.5: Earned Value of Project


Actual budgeted cost
Rs. 250,596,083.95
(Baseline cost)
Estimate at Completion Rs. 250,491,385.91
Variance at completion Rs. 104,698.04

4.7.1 EVM FROM 1-APRIL-15 to 18-AUGUST-


15 PRE-CONSTRUCTION
EAC ACWP BCWP
Rs. Rs. Rs.
250,596,083.95 830,000.00 830,000.00

Figure 6: EVM from 1-April-15 to 18-August-15

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1494
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
TASK NAME Table 4.7: EVM Analysis (19-August-15 to 31-
➢ Pre-construction plan December-15)
➢ Execution S. No TERMINOLOGY AMOUNT
➢ Substructure 1 EAC Rs. 250,596,083.95
➢ Excavation 2 BCWS Rs. 9,297,360.00
➢ Footing / raft work/retaining wall (basement 3 BCWP Rs. 9,297,360.00
Floor. Slab) 4 ACWP Rs. 9,297,360.00
➢ Retaining wall
5 CV Rs. 0
➢ Basement slab
6 SV (Rs. 241,298,723.95)
Table 4.6: EVM Analysis (1-April-15 to 18-August- 7 VAC Rs. 0
15)
S. No TERMINOLOGY AMOUNT 4.7.3 EVM FROM 1-JANUARY-16 to 28-FEB-16
1 EAC Rs. 250,596,083.95 SUPERSTRUCTURE PROGRESS
2 BCWS Rs. 830,000.00 EAC ACWP BCWP
3 BCWP Rs. 830,000.00 Rs. Rs. Rs.
4 ACWP Rs. 830,000.00 250,596,083.95 18,998,620.00 18,998,620.00
5 CV Rs. 0
6 SV Rs. 248,766,083.95
7 VAC Rs. 0

4.7.2 EVM FROM 19-AUGUST-15 to 31-


DECEMBER-15 SUBSTRUCTURE
PROGRESS
EAC ACWP BCWP
Rs. Rs. Rs.
250,596,083.95 9,297,360.00 9,297,360.00

Figure 8: EVM from 1-January-16 to 28-


February-16

TASK NAME
➢ Substructure
➢ Excavation
➢ Footing / raft work/retaining wall (basement floor.
Slab)

Table 4.8: EVM Analysis (1-January-16 to 28-


February-16)
Figure 7: EVM from 19-August-15 to 31- S. No TERMINOLOGY AMOUNT
December-15 1 EAC Rs. 250,596,083.95

TASK NAME 2 BCWS Rs. 18,998,620.00


➢ Execution 3 BCWP Rs. 18,998,620.00
➢ Substructure 4 ACWP Rs. 18,998,620.00
➢ Excavation
➢ Footing / raft work/retaining wall (basement floor. 5 CV Rs. 0
Slab) 6 SV Rs. 230,597,463.95
➢ Retaining wall 7 VAC Rs. 0
➢ Execution

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1495
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
4.7.4 EVM FROM 1-MARCH-16 to 30-APRIL- TASK NAME
16 SUPERSTRUCTURE PROGRESS ➢ 4th Floor Slab
EAC ACWP BCWP ➢ 5th Floor Slab
Rs. Rs. Rs. ➢ 6th Floor Slab
251,564,142.91 65,111,166.69 64,860,951.69 ➢ 7th Floor Slab
➢ 8th Floor Slab
➢ 9th Floor Slab
Table 4.10: EVM Analysis (1-May-16 to 30-June-
16)
S.No TERMINOLOGY AMOUNT
1 EAC Rs. 251,150,599.54
2 BCWS Rs. 113,261,210.29
3 BCWP Rs. 113,261,210.29
4 ACWP Rs. 113,511,543.57
5 CV (Rs. 250,333.28)
Figure 9: EVM from 1-March-16 to 28-April-16 6 SV (Rs. 136,334,873.66)
7 VAC (Rs. 554,515.59)
TASK NAME
➢ Slab Shuttering 4.7.6 EVM FROM 1-JULY-16 to 31-AUGUST-16
➢ Slab Reinforcement SUPERSTRUCTURE PROGRESS
➢ PT Work EAC ACWP BCWP
➢ Slab Casting Rs. Rs. Rs.
➢ 1st Floor Slab 250,608,516.82 169,191,172.19 169,183,015.24
➢ 3rd Floor Slab

Table 4.9: EVM Analysis (1-March-16 to 28-April-


16)
S.No TERMINOLOGY AMOUNT
1 EAC Rs. 251,564,142.91
2 BCWS Rs. 64,860,951.69
3 BCWP Rs. 64,860,951.69
4 ACWP Rs. 65,111,166.69
5 CV (Rs. 250,215.00)
6 SV (Rs. 184,735,132.26)
Figure 11: EVM from 1- July -16 to 31-August-16
7 VAC (Rs. 968,058.96)
TASK NAME
4.7.5 EVM FROM 1-MAY-16 to 30-JUNE-16
➢ 10th Floor Slab
SUPERSTRUCTURE PROGRESS
➢ 11th Floor Slab
EAC ACWP BCWP
➢ 12th Floor Slab
Rs. Rs. Rs. ➢ 13th Floor Slab
251,150,599.54 113,511,543.57 113,261,210.29 ➢ 14th Floor Slab
Table 4.11: EVM Analysis (1- July -16 to 31-
August-16)
S.N TERMINOLOGY AMOUNT
1 EAC Rs. 250,608,311.76
2 BCWS Rs. 169,183,015.24
3 BCWP Rs. 169,183,015.24
4 ACWP Rs. 169,191,172.19
5 CV (Rs. 8,156.96)
6 SV (Rs. 80,413,068.71)
Figure 10: EVM from 1-May-16 to 30-June-16 7 VAC (Rs. 12,227.81)

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1496
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
4.7.7 EVM FROM 1-SEPTEMBER-16 to 31- TASK NAME
OCTOBER-16 SUPERSTRUCTURE ➢ Water Tank
PROGRESS ➢ Parapet Wall - RCC - 1.50 M Ht.
EAC ACWP BCWP ➢ Block work
Rs. Rs. Rs. ➢ Internal Plaster/GVP Finish
250,608,516.82 233,993,733.24 234,098,021.45 ➢ Façade Work

Table 4.13: EVM Analysis (1-November-16 to 31-


December-16)
S.No TERMINOLOGY AMOUNT
1 EAC Rs. 250,487,115,.53
2 BCWS Rs. 239,707,188.11
3 BCWP Rs. 239,707,188.11
4 ACWP Rs. 239,602,115.53
Figure 12: EVM from 1-September-16 to 31-
5 CV Rs. 104,288.20
October-16
TASK NAME 6 SV (Rs. 9,888,895.83)
➢ 15th Floor Slab 7 VAC Rs. 108,968.42
➢ 16th Floor Slab
➢ Terrace Slab 4.7.9 EVM FROM 1-JANUARY-17 to 12-
➢ LMR Slab FEBRUARY-17 HANDING OVER
➢ Staircase Railing
EAC ACWP BCWP
➢ Flooring And Cladding Work
Table 4.12: EVM Analysis (1-September-16 to 31- Rs. Rs. Rs.
October-16) 249,596,083.95 249,491,795.74 249,596,083.95
S. No TERMINOLOGY AMOUNT
1 EAC Rs. 250,484,539.79
2 BCWS Rs. 234,098,021.45
3 BCWP Rs. 234,098,021.45
4 ACWP Rs. 233,993,733.24
5 CV Rs. 104,288.20
6 SV (Rs. 15,498,062.50)
7 VAC Rs. 111,544.16

4.7.8 EVM FROM 1-NOVEMBER-16 to 31-


DECEMBER-16 SUPERSTRUCTURE
PROGRESS
EAC ACWP BCWP
Rs. Rs. Rs.
Figure 14: EVM from 1-January-17 to 12-
250,487,115.53 239,602,899.91 239,707,188.11
February-17

TASK NAME
➢ Application Submission For Statutory Approval
To Gift City
➢ Statutory Approvals From Gift City
➢ Fire NOC
➢ LEED Certification
➢ Completion Certificate
Figure 13: EVM from 1-November-16 to 31- ➢ OC of the Building
December-16

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1497
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
Table 4.14: EVM Analysis (1-January-16 to 12-
February-17)
S. No TERMINOLOGY AMOUNT
1 EAC Rs. 250,487,115.53
2 BCWS Rs. 249,596,083.90
3 BCWP Rs. 249,596,083.90
4 ACWP Rs. 249,491,795.74
5 CV Rs. 104,288.20
6 SV -
7 VAC Rs. 104,698.04 Figure 15: EVM of Overall Project

4.8 EARN VALUE OF OVERALL PROJECT In the above graph, the budgeted cost of work
The projects earned value based on the status date. If scheduled is Rs.249,596,083.95 but through the
the actual cost (ACWP) is higher than earned value proper monitoring and the Earned Value Analysis, we
(BCWP), then the project is over budget. If planned are able to complete the project activities under the
value (BCWS) is higher than earned value, then the budgeted allocated i.e. Actual cost of work performed
project is behind schedule. is Rs. 249,491,795.74.

BCWS ACWP BCWP The project goes over budget for the month of April
Rs. Rs. Rs. 2016 by (Rs. 250,215.00) and so the variance at
249,596,083.95 249,491,795.74 249,596,083.95 completion is (Rs. 968,058.96). Through the proper
planning and the new catch-up plan, we are able to
complete the project on time and under the budgeted
cost at an additional profit of. Rs.104,288.20.

Figure 16: Earned value in Microsoft Project

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1498
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470

Figure 17: Resource sheet in Microsoft Project

Figure 18: Resource Allocation and Slippage from baseline schedule

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1499
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470

Figure 19: Labour Productivity

4.8 LIMITATIONS OF OUR STUDY 4.9 SEQUENCING OF THE WORK DONE IN


In our project study, we have not included special OUR PROJECT
works involving specially nominated sub-contractor. A. Review of BOQ – We obtained the BOQ from the
The additional sub-activities of the HVAC work is not GIFT site, the BOQ comprises of schedule of
included in our study work. different activities and the approximate quantities.
➢ For some work, we have taken the cost of material The total estimated cost of the project is
as per tender rate which is quite low as it was anticipated from the BOQ as per the quantities and
provided by the client and the site is located in a rate
SEZ area so there is a relaxation in the taxes in the B. Organization Breakdown Structure (OBS)
material. C. Scheduling – With the help of Bill of Quantity
➢ We have taken the rate of facade material as per (BOQ) in Microsoft Project (MSP)
the current market rate. D. Resource Sheet- Machinery, Manpower, and
➢ In the budgeting, we have not included the cost of Materials
Project manager, construction manager, and site E. Planning – Material and manpower requirement as
engineer. per quantities are given in Tender document
➢ We track and monitor the project at a regular F. Resource allocation – All the resource is allocated
period of 2 months. with the help of BOQs and R.A. bills
As due to the limitations of the study material which G. Budgeting
we gathered from the site, we are not able to include H. Tracking and monitoring as per the baseline
the budget for certain work in the budgeting of the schedule
activities, so the earned value report is not having any I. Preparation of the catch-up plan
part of such certain activities like the appointment of J. Again track the project till the completion of the
vendor and contractor’s profit. project
K. Prepare Earned Value Report
L. Conclusion.

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1500
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
5. CONCLUSIONS AND FUTURE SCOPE within the stipulated time and cost and it has a huge
5.1 CONCLUSION future scope in the construction industry.
As our study for applying the Earn Value
Management on construction project which was 5.2 FUTURE SCOPE
completed in 2017, from preliminary study project The concept of Earned value management or Earn
details and technical review of papers related to Earn Value Technique, it involves two terms from the
Value Management, we conclude that Earned Value study for the better monitoring and tracking of the
Management helps to do the particular project within actual completion date of the project.
the stipulated time and cost and it has a huge future 1. Earned Schedule: The Earned Schedule value can
scope in the construction industry. be graphically determined by finding the point
Earned Value at a given time meets the Planned
Through the earned value report of our project, it has Value curve. The projection of this point on the
been observed that our project is on schedule to the time axis (horizontal coordinate) then defines the
ground floor slab and it starts delay from the ground Earned Schedule.
floor slab casting so it causes an increase in the
project cost and time as well. First, the delay was 5
days and the delay goes on up to 16 days continuous
up to 5th floor until the catch-up plan was
implemented which crunch down the activities of
column and shear wall by 1 day and slab
reinforcement by 1 day so that we are able to catch up
the master baseline schedule dates.
➢ First, the cause of the delay was the shear wall
shuttering activity which was done by steel
formwork and after knowing it is one of the Figure 2 S-CURVES
reason for the delay it got replaced by the standard
ballax sheet. Secondly, it takes a lot of time for the 2. Earned Duration: The new technique, Earned
slab and beam reinforcement so there is a change Duration Management (EDM), eliminates the use
in the pattern of work as 2 different teams of steel of cost data in the scheduling context. The Earned
fitter and helper are assigned diagonally to Duration (ED) concept (Khamooshi & Golafshani,
complete the work and provide the front to the 2014) was created to address the shortcomings of
post-tensioning work and this helps to reduce the Earned Schedule due to the usage of cost-based
slab reinforcement activity by 1 day. Initially data as proxies for assessing the schedule
Shortage of labours though for completing the performance of projects. Its foundation lies in the
project within time and budget the more skilled exclusive usage of time-based data for the
labours are arranged. generation of physical progress indicators. Thus,
➢ By doing all the above-mentioned techniques we schedule performance indicators become free
are able to complete the project within the time from any dependency on planned cost values, and
but due to the certain delay and crunching of therefore, are no longer influenced by them.
activity project, there is a cost variance of Rs.
104,288.20 positive means we completed our The concept of schedule monitoring and control as
project with an additional profit of Rs 104,288.20 one of the most important functions of project and
program management has not been fully exploited.
Through the proper tracking and monitoring, we are EVM was originally developed as a cost management
able to come down the variance at completion which and control tool which was extended to track the
is Rs. 968,058.96 negative up to the month of April to schedule as well. EVM and its derivatives (e.g.
Rs 104,698.24 positive at the completion of the Earned Schedule) use cost as a proxy to measure
project means we have done our project activities schedule performance to control the duration of the
under the actual cost allocated for those activities. project. While there is a correlation between schedule,
According to the above data, we conclude that Earned cost, quality, and scope of a project, using cost to
Value Management helps to do the particular project control duration has proven to be misleading.

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1501
International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470
In contrast to Earned Value and Earned Schedule, the 3. Dr. Arun Dhawale1 Vaishnavi Tuljapurkar,” Cost
Earned Duration Management (EDM) has developed control and tracking of a building by earned value
in which decoupled schedule and cost performance method”, International Journal of Technical
measures and developed a number of indices to Research and Applications e-ISSN: 2320-8163,
measure progress and performance of schedule and www.ijtra.com Volume 3, Issue 2 (Mar-Apr
cost, as well as the efficacy and efficiency of the plan 2015), PP. 15-22.
at any level of the project. These new indices are easy 4. Andrew Fernans Tom1, Sachin Paul,” Project
to understand, have wider applications, and can be Monitoring and Control using Microsoft Project”,
used by contractors, clients and the scheduling offices International Journal of Innovative Research in
to assess and measure schedule performance. The Science, Engineering, and Technology Vol. 2,
newly developed duration performance measures are Issue 3, March 2013.
all schedule-based and can be used for forecasting the
finish date of the project. 5. ANUJ DUBEY,” Earned Value Analysis For A
Construction Project, Anuj Dubey, Journal Impact
Earned Schedule theory represents the two measures Factor (2015): 9.1215”, Volume 6, Issue 6, June
SV and SPI in 2 separate domains: currency and time. (2015), Pp. 53-66 Article ID: 20320150606006
They are named as SV (Rs) and SPI (Rs), to indicate International Journal of Civil Engineering and
they relate to currency; and SV(t) and SPI(t), to Technology (IJCIET).
indicate they relate to time. A stated advantage of 6. Ms. Radhika R. Gupta, Prof. Parag S. Mahatme,
Earned Schedule methods is that no new data Prof. Taran C. Bhagat “The cost controlling and
collection processes are required to implement and monitoring of construction project through earned
test Earned Schedule; it only requires updated value management system”, International Journal
formulas. Earned Schedule theory also provides of Advanced Technology in Engineering and
updated formulas for predicting project completion Science, Volume No 03, Special Issue No. 01,
date, using the time-based measures. March 2015.
REFERENCES 7. Shu CHEN and Xueqing ZHANG”An Analytic
1. T. Subramani, D. S. Stephan Jabasingh, J. Review of Earned Value Management Studies in
Jayalakshmi,” Analysis of Cost Controlling In the Construction Industry”, Construction Research
Construction Industries by Earned Value Method Congress 2012 © ASCE 2012
Using Microsoft Project” Int. Journal of 8. Rajesh Ganpat Virle and Sumedh Y Mhaske
Engineering Research and Applications ISSN: ”Monitoring Of Construction Projects Using Evm
2248-9622, Vol. 4, Issue 6( Version 1), June 2014, And Esm Tools”, ISSN 2319 – 6009
pp.145-153. www.ijscer.com Vol. 2, No. 4, November 2013.
2. Ray W. Stratton, EVP,” Applying Earned 9. Sandhya Suresh, Ganapathy Ramasamy N
Schedule Analysis to EVM data for Estimating “Analysis Of Project Performance Using Earned
Completion Date”, 2007 AACE International Value Analysis” International Journal of Science,
Transactions. Engineering and Technology Research (IJSETR)
Volume 4, Issue 4, April 2015

@ IJTSRD | Available Online @ www.ijtsrd.com | Volume – 2 | Issue – 5 | Jul-Aug 2018 Page: 1502

You might also like