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Application of Earned Value Technique for a Residential Project using MSP

Author(s):

Prerna Raghunath Patil , NDMVPS?S KBTCOE, Nashik, India

Keywords:

Earn value method, Microsoft project, Residential Project

Abstract

Most of the construction projects suffer from cost and time overruns due to several factors.. Earned Value is a program management technique that uses “work in progress” to indicate what will happen to work in the future. It allows projects to be managed better – on time, on budget. The earned value analysis gives early indications of project performance to highlight the need for eventual corrective action. Aim of this work is to apply EVM technique along with MSP software on a residential project to study the different activities associated with the project. The study also aims to highlights the cost and schedule analysis by using key elements of EVM and to make sure that the whole project is completed on time as per the estimated cost without any delays. To fulfill this aim, firstly the residential project has been analyzed by using analytical EVM methods. Schedule of obtained data of completed and ongoing work of the project has been prepared in MSP. Further EVM parameter has been used to obtain results. From this study, it has been observed that Project Management will be more enhanced when EVM and MSP goes hand-in-hand. This will make the project to get completed on time and will help the project practitioners to plan the work accordingly by effective scheduling, proper estimating, cost control and bring back the project to its original schedule by some alternative techniques.

Other Details

Paper ID: IJSRDV5I50951
Published in: Volume : 5, Issue : 5
Publication Date: 01/08/2017
Page(s): 1026-1030

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