Access to new resource related to Earned Value Management added to PMWL
Resource provided by Balzhan Khamitova
6 April 2022 – Almaty, Kazakhstan – Access to a new resource has been added to the PM World Library (PMWL) related to Earned Value Management. The new resource is titled “Control of construction projects using the Earned Value Method” and is a paper by Krystyna Araszkiewicz and Magdalena Bochenek published in the journal Open Engineering in 2019.
For the effective implementation of any projects, for example, construction or IT projects, the main functions are planning, controlling and monitoring the progress/process of work done. The basic tools that enable performance of the above functions are the schedules of the work and the planned budgets. The authors in their article/study present a novelty, which is the introduction of an additional sensitivity analysis. This analysis illustrates the impact of cost increases or adjustments in delivery times on variance curves.
In this study, the authors analyzed a few case studies – the construction of an apartment building and entailed roadworks. In these cases, they analyzed the monthly reports of a construction company. Based on these reports, the authors analyzed the expenses, earned value of the company, and presented these data in a visual graphical form. They concluded that based on several parameters, one can quickly assess the actual project status; EVM allows an early detection of errors; EVM is best suited for projects that last more than a year and a simple analysis of the CPI and SPI indicators facilitates project management.
To access this new resource, go to the Applications and Hot Topics section of the library at https://pmworldlibrary.net/applications-and-topics/ scroll down to “Basic P/PM Topics”, and click on “Earned Value Management (EVM)”, scroll down to resource. Must be a registered member and logged-in to access. If not yet registered, consider the FREE Trial Membership.
This new resource provided through the PMWL university research internship program; to learn more, click here
