A Step by Step Method for Carrying Out Earned Value Analysis: Case Study of a Road Project

Abstract

A framework of Earned Value Management (EVM) is proposed with the help of case study of a road project completed by Al Tamak, Abu Dhabi (UAE). The framework gives emphasis on the process part (i.e. before the actual start of project monitoring) of Earned Value Management through MS-Project. This framework will help in measuring and managing the variances in schedule and cost of the project in terms of money. The basic framework and calculations of EV structure were designed and a detailed explanation of its successful implementation is presented in this paper. Also this paper encourages contractors and other process owners to use effective internal technical, cost and schedule management control systems.

Keywords: Earned Value Management, Project Monitoring