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| earned value management construction: Rethinking Earned Value & Schedule Management on Construction Projects J. Gerard Boyle, 2021-12-17 This is an essential, groundbreaking book for public and private buyers of construction, contractors and sub-contractors, designers, project managers, lawyers, Earned Value specialists, forensic claims analysts, schedulers, dispute resolution experts, academics, and anyone interested in improving performance and productivity on construction projects. Among the topics discussed are the following: - Exhaustive critique of existing Earned Value analysis that compels changes to current theory and practice - New Earned Value analytics for construction, integrated with resource-loaded CPM schedules represent a paradigm change - Worked examples of resource-loaded CPM schedules using the new EV Performance analytics - Identification of reliable performance thresholds for progress, productivity and resources - Understanding the interconnection of progress and productivity and performance patterns over time - How to create meaningful, resource-loaded, CPM schedules - Analyzing schedule float in concert with the new analytics - Why current cause and effect delay analysis is fundamentally flawed because it ignores root causes - Why delay claim analysis must always account for productivity - The problem common to all contract delivery methods and how to correct it - Why construction projects fail - Specific steps in creating a successful construction program - Game theoretical & other approaches to implementing a performance-based system - Using commercial dispute resolution to contemporaneously resolve claims and improve performance going forward - The importance of probabilistic (Monte Carlo) schedule analysis & problems with current practice |
| earned value management construction: The Standard for Earned Value Management Project Management Institute, 2020-04-13 Earned value management (EVM) is a management methodology for integrating scope, schedule, and resources; objectively measuring project performance and progress; and forecasting project outcome. It is considered by many to be one of the most effective performance measurement and feedback tools for managing projects. The Standard for Earned Value Management builds on the concepts for EVM described in the Practice Standard for Earned Value Management and includes enhanced project delivery information, by integrating concepts and practices from the PMBOK® Guide – Sixth Edition and The Agile Practice Guide. A central theme in this standard is the recognition that the definition for value in EVM has expanded. While the term retains its traditional definition in terms of project cost, it embraces current practice by including the concept of earned schedule. This standard also integrates hybrid methodologies that blend together historical EVM concepts with the needs of the agile practitioner, all with an eye towards aiding the project team in enhancing overall project delivery. This standard is a useful tool for experienced project management practitioners who are seeking to expand and update their knowledge of the field as well as less experienced practitioners who want to learn other approaches for managing project performance. It provides insight and detailed explanations of the basic elements and processes of EVM, and demonstrates how to scale EVM to fit varying project sizes and situations. This standard includes graphical examples and detailed explanations that will enable the reader to establish and implement EVM on projects in almost any environment and of almost every size. When used together with good project management principles, EVM methodology will provide a greater return on any project and results that will directly benefit your organization. |
| earned value management construction: Earned Value Project Management Quentin W. Fleming, Joel M. Koppelman, 2000 Earned value is a project management technique that is emerging as a valuable tool in the management of all projects, including and, in particular, software projects. In its most simple form, earned value equates to fundamental project management. This is not a new book, but rather it is an updated book. Authors Quentin Fleming and Joel Koppelman have made some important additions. In many cases, there will be no changes to a given section. But in other sections, the authors have made substantial revisions to what they had described in the first edition. Fleming and Koppelman's goal remains the same with this update; describe earned value project management in its most fundamental form, for application to all projects, of any size or complexity. Writing in an easy-to-read, friendly, and humorous style characteristic of the best teachers, Fleming and Koppelman have identified the minimum requirements that they feel are necessary to use earned value as a simple tool for project managers. They have also witnessed the use of simple earned value on software projects, and find it particularly exciting. Realistically, a Cost Performance Index (CPI) is the same whether the project is a multibillion-dollar high-technology project, or a simple one hundred thousand-dollar software project. A CPI is a CPI ... period. It is a solid metric that reflects the health of the project. In every chapter, Fleming and Koppelman stick with using simple stories to define their central concept. Their project examples range from peeling potatoes to building a house. Examples are in rounc numbers, and most formulas get no more complicated than one number divided by another. Earned Value ProjectManagement--second edition may be the best-written, most easily understood project management book on the market today. Project managers will welcome this fresh translation of jargon into ordinary English. The authors have mastered a unique early-warning signal of impending cost problems in time for the project manager to react. |
| earned value management construction: Measuring Time Mario Vanhoucke, 2009-10-09 Meant to complement rather than compete with the existing books on the subject, this book deals with the project performance and control phases of the project life cycle to present a detailed investigation of the project’s time performance measurement methods and risk analysis techniques in order to evaluate existing and newly developed methods in terms of their abilities to improve the corrective actions decision-making process during project tracking. As readers apply what is learned from the book, EVM practices will become even more effective in project management and cost engineering. Individual chapters look at simulation studies in forecast accuracy; schedule adherence; time sensitivity; activity sensitivity; and using top-down or bottom-up project tracking. Vanhoucke also offers an actual real-life case study, a tutorial on the use of ProTrack software (newly developed based on his research) in EVM, and conclusions on the relative effectiveness for each technique presented. |
| earned value management construction: Practice Standard for Earned Value Management Project Management Institute, 2006-06 The Practice Standard for Earned Value Management expands on the earned value information in A Guide to the Project Management Body fo Knowledge (PMBOK Guide) - Third Edition. EVM is often referred to as management with the lights on because it helps objectively and succincly identify where a project is where it is going. The methodology incorporates project scope, schedule and costs, and the process is applicable across many Knowledge Areas and Process Groups. |
| earned value management construction: Sustainable Value Management for Construction Projects Ayodeji E. Oke, Clinton O. Aigbavboa, 2017-03-16 This book provides a unique guide to value management and sustainability in construction to researchers and professional. The book provides a better understanding of the concept of value management, the basis of sustainable construction and thereafter, demonstrates how using the principles of value management can help to achieve successful construction projects that are financially viable, socially beneficial and do not damage the environment. The book serves as an introduction to value management for scholars and researchers at all levels; and also as a practical guide for construction professionals, employers and other stakeholders in the construction industry. |
| earned value management construction: Applying Earned Value Management to Design-Bid-Build Projects to Assess Productivity Disruption Stephen P. Warhoe, 2013 One of the most important jobs of a project manager is to manage a project's budget and schedule. These tasks can easily be very difficult to accomplish on projects that are complex, especially since successful project execution relies heavily on people who are expected to perform their roles individually and as a team. One of the most difficult aspects of managing projects is estimating how fast and effectively humans will perform a task; that is, determining how productive workers collectively will be each day, each week, or within any time period during the life of a project. Because projects are unique and are typically one-off endeavors, there is usually little previous empirical data to rely upon for the project manager to forecast productivity before or during the project's execution. The crux of the problem lies with adequately identifying not only the labor work flow process, but also the influences that affect the work flow process. When scope changes are introduced into the work flow of a project, the types and number of influences and their cause and effect relationships can significantly increase in numbers. This phenomenon often turns complicated projects into extremely complex ones and the final outcome can be greater than the sum of the individual inputs. For project managers who are unable to get their arms around this very real situation, forecasting the outcome of a project often becomes out of control, especially for projects that are large and heavily labor intensive. This study takes a post-positivist approach to design and builds a system dynamic model with which construction projects that are delivered using the design-bid-build methodology can be simulated to show generically how the influences that affect construction projects can affect worker productivity. No other studies are known to exist that design or build such a model for construction projects that use the design-bid-build delivery method. The model that was designed in the study is based on the works of several academics' works as well as the input of several experts in the construction field, including this study's author. As opposed to attempting to create a simulation model based on the uniqueness of a single project, a mosaic approach was used in creating the model in that elements of the model were identified and taken from studies found through the literature review as well as interviews with construction industry experts. The stock and flow structure of the study's model is intended to be a composite of many construction projects and can be used for any project delivered using the design-bid-build methodology. From the research, the model was created and tested using good modeling practice in that the model testing phase followed the process created by one of the pre-eminent system dynamic modelers in the world (refer to Sterman, 2000). The result is a model that simulates the work flow of labor hours in a design-bid-build construction project which can be affected by an immeasurable number of influences that can and do occur on construction projects. |
| earned value management construction: Value Management of Construction Projects John Kelly, Steven Male, Drummond Graham, 2014-11-17 Value Management is a philosophy, set of principles and a structured management methodology for improving organisational decision-making and value-for-money. The second edition builds on the success of the first edition by extending the integrated value philosophy, methodology and tool kit to describe the application of Value Management to the areas of service delivery, asset management, and, Programmes, in addition to Projects, products and processes. Value Management is a well-established methodology in the international construction industry, and in the UK has been endorsed as good practice in a range of government sponsored reports. In this book the authors have addressed the practical opportunities and difficulties of Value Management by synthesising the background, international developments, benchmarking and their own extensive consultancy and action research experience in Value Management to provide a comprehensive package of theory and practice. The second edition retains the structure of the first edition, covering methods and practices, frameworks of value and the future of value management. It has been thoroughly updated, and a number of new chapters added to encapsulate further extensions to current theory and practice. In particular, the new edition responds to: A range of recent UK industry and government publications; and most notably BS EN 16271:2012 - Value management: Functional expression of the need and functional performance specification; the imminent update of BS EN 12973:2000 Value Management; BS EN 1325 Value Management -- Vocabulary, Terms and definitions; the changes to Value for Europe governing the training and certification of Value Management in European Union countries; the UK Government’s Management of Value (MoV) initiative, together with other leading reports, international guidance and standards on Value Management. Research in Value Management undertaken since publication of the first edition. Changes in Value Management practice particularly in Programmes and Projects. Developments in the theory of value, principally value for money measures, whole life value option appraisal, and benefits realisation. Initiatives in asset management initiatives covering the management of physical infrastructure, for example the recent launch of a suite of three standards under the generic title of BS ISO 55000: 2014 Asset Management, and its predecessor BSI PAS55 2008 Asset Management: Specification For The Optimized Management Of Physical Assets The second edition contains a dedicated chapter of exemplar case studies drawn from the authors' experience, selected to demonstrate the new areas of theory and practice. An Appendix includes an extensive set of tools and techniques of use in Value Management practice. Construction clients, including those in both the public and private sectors, and professionals such as construction cost consultants, quantity surveyors, architects, asset managers, construction engineers, and construction managers will all find Value Management of Construction Projects to be essential reading. It will also be of interest to researchers and students on construction related courses in Higher Education -- particularly those at final year undergraduate and at Masters level. |
| earned value management construction: Earned Value Project Management (Fourth Edition) Quentin W. Fleming, Joel M. Koppelman, 2016-12-20 Earned Value Project Management (EVPM) is a methodology used to measure and communicate the real physical progress of a project taking into account the work completed, the time taken and the costs incurred to complete that work. As a result, EVPM allows more educated and effective management decision-making, which helps evaluate and control project risk by measuring project progress in monetary terms. In the first two editions of Earned Value Project Management, Quentin W. Fleming and Joel M. Koppelman provided guidance for project management practitioners already familiar with EVPM, was well as those who were new to the use of this technique. The third edition expanded the information available on of EVPM for medium and smaller projects while still being relevant for larger projects. An important addition to Earned Value Project Management &– Fourth Edition is the discussion of the two perceptions of the EVM concept. Both are valid, but one is better suited to the management of major projects while the other appropriate for use on all projects. The authors cover both perceptions in this book, with a bias in favor of simple, broad-based EVM for use on all projects. |
| earned value management construction: Project Management Harold Kerzner, 2009-04-03 The landmark project management reference, now in a new edition Now in a Tenth Edition, this industry-leading project management bible aligns its streamlined approach to the latest release of the Project Management Institute's Project Management Body of Knowledge (PMI®'s PMBOK® Guide), the new mandatory source of training for the Project Management Professional (PMP®) Certificat-ion Exam. This outstanding edition gives students and professionals a profound understanding of project management with insights from one of the best-known and respected authorities on the subject. From the intricate framework of organizational behavior and structure that can determine project success to the planning, scheduling, and controlling processes vital to effective project management, the new edition thoroughly covers every key component of the subject. This Tenth Edition features: New sections on scope changes, exiting a project, collective belief, and managing virtual teams More than twenty-five case studies, including a new case on the Iridium Project covering all aspects of project management 400 discussion questions More than 125 multiple-choice questions (PMI, PMBOK, PMP, and Project Management Professional are registered marks of the Project Management Institute, Inc.) |
| earned value management construction: Performance-Based Earned Value Paul Solomon, Ralph Young, 2007 A complete toolkit for implementation of Earned Value Management Performance-Based Earned Value uniquely shows project managers how to effectively integrate technical, schedule, and cost objectives by improving earned value management (EVM) practices. Providing innovative guidelines, methods, examples, and templates consistent with capability models and standards, this book approaches EVM from a practical level with understandable techniques that are applicable to the management of any project. Clear and unambiguous instructions explain how to incorporate EVM with key systems engineering, software engineering, and project management processes such as establishing the technical or quality baseline, requirements management, using product metrics, and meeting success criteria for technical reviews. Detailed information is included on linking product requirements, project work products, the project plan, and the Performance Measurement Baseline (PMB), as well as correlating technical performance measures (TPM) with EVM. With straightforward instructions on how to use EVM on a simple project, such as building a house, and on complex projects, such as high-risk IT and engineering development projects, it is the only book that includes excerpts from the PMI®'s Project Management Body of Knowledge (PMBOK®), CMMI, the EVM System standard, systems engineering standards, federal acquisition regulations, and Department of Defense guides. Performance-Based Earned Value allows both novices and experienced project managers, including project manager of suppliers and customers in the commercial and government sectors; software and systems engineering process improvement leaders; CMMI appraisers; PMI members; and IEEE Computer Society members to: Incorporate product requirements and planned quality into the PMB Conduct an Integrated Baseline Review Analyze performance reports Perform independent assessments and predictive analysis Ensure that key TPMs are selected, monitored, and reported Identify the right success criteria for technical reviews Develop techniques for monitoring and controlling supplier performance Integrate risk management with EVM Comply with government acquisition policies and regulations Written by Paul Solomon and Ralph Young, internationally recognized industry experts, Performance-Based Earned Value is constructed from guidance in standards and capability models for EVM, systems engineering, software engineering, and project management. It is the complete guide to EVM, invaluable in helping students prepare for the PMI®-PMP® exam with practical examples and templates to facilitate understanding, and in guiding project professionals in the private and public sectors to use EVM on complex projects. (PMI, PMBOK, PMP, and Project Management Professional are registered marks of the Project Management Institute, Inc.) |
| earned value management construction: Project Management, Planning and Control Albert Lester, 2007 This fifth edition provides a comprehensive resource for project managers. It describes the latest project management systems that use critical path methods. |
| earned value management construction: Using Earned Value Alan Webb, 2017-05-15 The concept of 'earned value' as a project management tool has been around since the 1960s; although recognized as an important technique and widely used on US Government contracts, it failed to excite much interest in the wider world because of its specifically American requirements and the cumbersome, prescriptive bureaucracy that seemed to accompany it. Recently however, with the advent of suitable software and used in a much more flexible way, there has been a growth in interest among project managers. Crucially it has been recognised that this technique can be helpful in a wide variety of projects of almost any size, not just government projects costing billions of pounds. In essence, earned value allows the project manager a more precise view of actual project performance in terms of both value generated and schedule progress than is possible with any other approach. Alan Webb's concise guide provides practising project managers with everything they need to: ¢ assess the appropriateness and benefits of the earned value process for both their project(s) and their organization; ¢ appreciate, understand and learn the techniques involved; ¢ identify how to apply the data to manage projects with flexibility, pragmatism and rigour; ¢ understand the different features and benefits of the various software packages available; ¢ plan for the introduction of an earned value methodology, anticipating both the systems and people problems they may face. The book uses worked examples, cases and anecdotes from the author's own extensive experience to bring this technical subject to life. Alan's writing style is direct and economical, which means that whether you are dipping into chapters for reference or reading about the process from cover to cover, everything he has to say is pertinent and helpful. |
| earned value management construction: Project Management with Dynamic Scheduling Mario Vanhoucke, 2013-11-29 The topic of this book is known as dynamic scheduling, and is used to refer to three dimensions of project management and scheduling: the construction of a baseline schedule and the analysis of a project schedule’s risk as preparation of the project control phase during project progress. This dynamic scheduling point of view implicitly assumes that the usability of a project’s baseline schedule is rather limited and only acts as a point of reference in the project life cycle. Consequently, a project schedule should especially be considered as nothing more than a predictive model that can be used for resource efficiency calculations, time and cost risk analyses, project tracking and performance measurement, and so on. In this book, the three dimensions of dynamic scheduling are highlighted in detail and are based on and inspired by a combination of academic research studies at Ghent University (www.ugent.be), in-company trainings at Vlerick Business School (www.vlerick.com) and consultancy projects at OR-AS (www.or-as.be). First, the construction of a project baseline schedule is a central theme throughout the various chapters of the book, and is discussed from a complexity point of view with and without the presence of project resources. Second, the creation of an awareness of the weak parts in a baseline schedule is discussed at the end of the two baseline scheduling parts as schedule risk analysis techniques that can be applied on top of the baseline schedule. Third, the baseline schedule and its risk analyses can be used as guidelines during the project control step where actual deviations can be corrected within the margins of the project’s time and cost reserves. The second edition of this book has seen corrections, additions and amendments in detail throughout the book. Moreover Chapter 15 on Dynamic Scheduling with ProTrack has been completely rewritten and extended with a section on ProTrack as a research tool. |
| earned value management construction: Construction Project Management Peter Fewings, 2013-05-07 The role of the project manager continues to evolve, presenting new challenges to established practitioners and those entering the field for the first time. This second edition of Peter Fewings' groundbreaking textbook has been thoroughly revised to recognise the increasing importance of sustainability and lean construction in the construction industry. It also tackles the significance of design management, changing health and safety regulation, leadership and quality for continuous improvement of the service and the product. Using an integrated project management approach, emphasis is placed on the importance of effectively handling external factors in order to best achieve an on-schedule, on-budget result, as well as good negotiation with clients and skilled team leadership. Its holistic approach provides readers with a thorough guide in how to increase efficiency and communication at all stages while reducing costs, time and risk. Short case studies are used throughout the book to illustrate different tools and techniques. Combining the theories underpinning best practice in construction project management, with a wealth of practical examples, this book is uniquely valuable for practitioners and clients as well as undergraduate and graduate students for construction project management. |
| earned value management construction: Code of Practice for Project Management for Construction and Development CIOB (The Chartered Institute of Building), 2014-09-15 The first edition of the Code of Practice for Project Management for Construction and Development, published in 1992, was groundbreaking in many ways. Now in its fifth edition, prepared by a multi-institute task force coordinated by the CIOB and including representatives from RICS, RIBA, ICE, APM and CIC, it continues to be the authoritative guide and reference to the principles and practice of project management in construction and development. Good project management in construction relies on balancing the key constraints of time, quality and cost in the context of building functionality and the requirements for sustainability within the built environment. Thoroughly updated and restructured to reflect the challenges that the industry faces today, this edition continues to drive forward the practice of construction project management. The principles of strategic planning, detailed programming and monitoring, resource allocation and effective risk management, widely used on projects of all sizes and complexity, are all fully covered. The integration of Building Information Modelling at each stage of the project life is a feature of this edition. In addition, the impact of trends and developments such as the internationalisation of construction projects and the drive for sustainability are discussed in context. Code of Practice will be of particular value to clients, project management professionals and students of construction, as well as to the wider construction and development industries. Much of the information will also be relevant to project management professionals operating in other commercial spheres. |
| earned value management construction: Analytical Hierarchy Process, Earned Value and Other Project Management Themes Ricardo Viana Vargas, Sergio Alves Lima Jardim, 2014-09-26 Twelve technical articles from 1999 to 2014 that will help the understanding of the project management context. |
| earned value management construction: Construction Project Management S. Keoki Sears, Glenn A. Sears, Richard H. Clough, 2010-09-29 For more than thirty years, Construction Project Management by Clough and Sears has been considered the preeminent guide to the Critical Path Method (CPM) of project scheduling. It combines a solid foundation in the principles and fundamentals of CPM with particular emphasis on project planning, demonstrated through an example project. This Fifth Edition features a range of improvements. New pedagogical devices improve absorption of the material. Updated labor, material, and equipment pricing is incorporated into the text. Coverage is enhanced by discussions of contemporary planning and management methods such as Work Breakdown Structures (WBS) and the Earned Value Management System (EVMS). A highway bridge with a complete cost estimate, including SI units, illustrates each of the principles of project management. Using this basic information and the case studies in the appendix, readers are given project management problems and hands-on project management experience. The Fifth Edition features include: Complete coverage of planning and scheduling principles that apply to every type of construction project Expanded coverage of production planning Large foldout illustrations conveniently integrated throughout the book Thorough and up to date, Construction Project Management, Fifth Edition is a superb text for students and an indispensable on-the-job reference for builders, architects, civil engineers, and other construction professionals. |
| earned value management construction: Earned Value Management , 2008 |
| earned value management construction: Project Management Using Earned Value Gary C. Humphreys, 2002-01-01 |
| earned value management construction: Construction Project Management Frederick E. Gould, Nancy Eleanor Joyce, 2009 This text provides readers with a complete overview of the construction industry. While looking at recent innovattions in technology and process, it explores the people that are part of the industry and how they work together. |
| earned value management construction: The Fast Forward MBA in Project Management Eric Verzuh, 2015-11-09 The all-inclusive guide to exceptional project management The Fast Forward MBA in Project Management is the comprehensive guide to real-world project management methods, tools, and techniques. Practical, easy-to-use, and deeply thorough, this book gives you answers you need now. You'll find the cutting-edge ideas and hard-won wisdom of one of the field's leading experts, delivered in short, lively segments that address common management issues. Brief descriptions of important concepts, tips on real-world applications, and compact case studies illustrate the most sought-after skills and the pitfalls you should watch out for. This new fifth edition features new case studies, new information on engaging stakeholders, change management, new guidance on using Agile techniques, and new content that integrates current events and trends in the project management sphere. Project management is a complex role, with seemingly conflicting demands that must be coordinated into a single, overarching, executable strategy — all within certain time, resource, and budget constraints. This book shows you how to get it all together and get it done, with expert guidance every step of the way. Navigate complex management issues effectively Master key concepts and real-world applications Learn from case studies of today's leading experts Keep your project on track, on time, and on budget From finding the right sponsor to clarifying objectives to setting a realistic schedule and budget projection, all across different departments, executive levels, or technical domains, project management incorporates a wide range of competencies. The Fast Forward MBA in Project Management shows you what you need to know, the best way to do it, and what to watch out for along the way. |
| earned value management construction: Cost and Value Management in Projects Ray R. Venkataraman, Jeffrey K. Pinto, 2011-08-26 Cost and Value Management in Projects provides practicing managers with a thorough understanding of the various dimensions of cost and value in projects, along with the factors that impact them, and the managerial approaches that would be most effective for achieving cost efficiency and value optimization. This book addresses cost from a strategic perspective, offering thorough coverage of the various elements of value management such as value planning, value engineering and value analysis from the perspective of projects. |
| earned value management construction: Project Control Wayne J. Del Pico, 2013-08-21 The key to successful project control is the fusing of cost to schedule whereby the management of one helps to manage the other. Project Control: Integrating Cost and Schedule in Construction explores the reasons behind and the methodologies for proper planning, monitoring, and controlling both project costs and schedule. Filling a current void the topic of project control applied to the construction industry, it is essential reading for students and professionals alike. |
| earned value management construction: Residential Construction Management Joseph A. Griffin, 2010-03-15 Residential Construction Management will provide construction managers a concise and practical guide to managing residential construction projects. One of the fundamental reasons residential contractors fail to prosper is that they are poor managers. By presenting project management tools in their appropriate context of the project lifecycle—initiation, planning, execution, monitoring and controlling, and closing, readers will more clearly understand the iterative nature of construction management, which is a key to successfully managing a construction project. You can't afford to be without this indispensible working tool and its step-by-step instructions, project management templates, and real-world case studies. Residential Construction Management provides construction managers a concise and practical guide to managing residential construction projects. One of the fundamental reasons residential contractors fail to prosper is that they are poor managers. By presenting project management tools in their appropriate context of the project lifecycle — initiation, planning, execution, monitoring and controlling, and closing — you will more clearly understand the true nature of construction management, which is a key to successfully managing a construction project. You can't afford to be without this indispensible working tool and its step-by-step instructions, project management templates, and real world case studies.Key Features ¦ Walks you through the entire project management lifecycle resulting in a better understanding of the iterative processes of construction management ¦ Offers the information and real world tools needed to successfully apply to a planned or current project ¦ Shows how various knowledge areas and project management tools interact when doing a project providing you with the knowledge to create your own project plan ¦ Offers a downloadable building specification form, change order authorization form, construction schedule, sample budget, construction flowchart, a guide to working with bankers for spec home loans, and much more — available from the Web Added Value™ Download Resource Center at www.jrosspub.com |
| earned value management construction: Earned Value Management – Fast Start Guide Roland Wanner, 2020-02-16 Discover How to Make Your Project Control Even More Effective and Bring More Transparency and Security to Your Projects This book covers the basic concepts of EARNED VALUE MANAGEMENT in an easy understandable way. You will find on more than 200 pages comprehensive knowledge about Earned Value Management, simply explained with more than 50 illustrations – and aligned with the PMBOK® Guide 6th Edition 2018. Project control and reporting of costs, schedules, technical progress and risks is essential in projects. With EARNED VALUE MANAGEMENT (EVM) you get an extremely effective project control tool to bring the necessary transparency and security to your projects. Find out the answers to this difficult questions: - The actual costs are lower than the planned costs. Does this mean that the project is working well or that it is behind schedule? - The actual costs are higher than the planned costs and the project is half completed. What are the estimated costs of the project when it is completed? - When will the project be completed? - How efficiently are we using our time and resources? - How much will the profit or ROI be at the end of the project? With the answers to these questions you will quickly know the real status and health of your project. Overly optimistic estimates regarding actual project progress are quickly revealed with the EVM performance figures. This way you obtain early warning signals to manage y our project successfully and you can also make early forecasts of the project end costs and the probable project duration. In this book you will discover the most important concepts of Earned Value Management in order to apply it successfully. You will learn about the following topics: - Project control fundamentals - The Genesis of Earned Value Management - What is Earned Value Management and why do we need it? - Project and budget planning when using Earned Value Management - The calculation of the Earned Values and its derived EVM performance figures - Project monitoring and forecasts with EVM performance figures - Reporting when using Earned Value Management - Implementing Earned Value Management With its comprehensive glossary containing definitions of all key terms, this book is equally suitable as a comprehensive introduction and as a reference book for everyday work. This book is an indispensable manual for beginners in the EVM topic but also for experienced Project Managers, Project Controls Specialists and Project Portfolio Managers who have the first contact with EVM. The terminology used in this book is Check out the preview! Buy this book to make your projects even more successful! |
| earned value management construction: Construction Management Eugenio Pellicer, Víctor Yepes, José C. Teixeira, Helder P. Moura, Joaquín Catalá, 2013-10-09 The management of construction projects is a wide ranging and challenging discipline in an increasingly international industry, facing continual challenges and demands for improvements in safety, in quality and cost control, and in the avoidance of contractual disputes. Construction Management grew out of a Leonardo da Vinci project to develop a series of Common Learning Outcomes for European Managers in Construction. Financed by the European Union, the project aimed to develop a library of basic materials for developing construction management skills for use in a pan-European context. Focused exclusively on the management of the construction phase of a building project from the contractor’s point of view, Construction Management covers the complete range of topics of which mastery is required by the construction management professional for the effective delivery of new construction projects. With the continued internationalisation of the construction industry, Construction Management will be required reading for undergraduate and postgraduate students across Europe. |
| earned value management construction: The 10th International Conference on Engineering, Project, and Production Management Kriengsak Panuwatwanich, Chien-Ho Ko, 2020-03-03 This book gathers the proceedings of the EPPM 2019 conference, and highlights innovative work by researchers and practitioners active in various industries around the globe. Recent advances in science and technology have made it possible to seamlessly connect and integrate various elements of engineering systems, and opened the door for innovations that have transformed how we live and work. While these developments have yielded enhanced efficiency and numerous improvements in our current practices, the problems caused by the increased complexity of these integrated systems can be extremely difficult. Accordingly, solving these problems involves applying cross-disciplinary expertise to address the heterogeneity of the various elements inherent in the system. These proceedings address four main themes: (I) Smart and Sustainable Construction, (II) Advances in Project Management Practices, (III) Toward Safety and Productivity Improvement, and (IV) Smart Manufacturing, Design, and Logistics. As such, they will be of interest to and valuable to researchers and practitioners in a range of industries seeking an update on the translational fields of engineering, project, and production management. |
| earned value management construction: Benefit/Cost-Driven Software Development Jo Erskine Hannay, 2021 This open access book presents a set of basic techniques for estimating the benefit of IT development projects and portfolios. It also offers methods for monitoring how much of that estimated benefit is being achieved during projects. Readers can then use these benefit estimates together with cost estimates to create a benefit/cost index to help them decide which functionalities to send into construction and in what order. This allows them to focus on constructing the functionality that offers the best value for money at an early stage. Although benefits management involves a wide range of activities in addition to estimation and monitoring, the techniques in this book provides a clear guide to achieving what has always been the goal of project and portfolio stakeholders: developing systems that produce as much usefulness and value as possible for the money invested. The techniques can also help deal with vicarious motives and obstacles that prevent this happening. The book equips readers to recognize when a project budget should not be spent in full and resources be allocated elsewhere in a portfolio instead. It also provides development managers and upper management with common ground as a basis for making informed decisions. |
| earned value management construction: Performance-Based Project Management Glen Alleman, 2014-02-13 Even the most experienced project managers aren’t immune to the more common and destructive reasons for project collapses. Poor time and budget performance, failure to deal with complexity, uncontrolled changes in scope . . . they can catch anyone off guard. Performance-Based Project Management can help radically improve your project’s success rate, despite these and other obstacles that will try to take it down. Readers will discover how they can increase the probability of project success, detailing a step-by-step plan for avoiding surprises, forecasting performance, identifying risk, and taking corrective action to keep a project a success. Project leaders wishing to stand out among their peers who are continually hampered by these unexpected failures will learn how to:• Assess the business capabilities needed for a project• Plan and schedule the work• Determine the resources required to complete on time and on budget• Identify and manage risks to success• Measure performance in units meaningful to decision makersBy connecting mission strategy with project execution, this invaluable resource for project managers in every industry will help bring projects to successful, career-enhancing completion. |
| earned value management construction: Evolving Software Processes Arif Ali Khan, Dac-Nhuong Le, 2022-01-05 EVOLVING SOFTWARE PROCESSES The book provides basic building blocks of evolution in software processes, such as DevOps, scaling agile process in GSD, in order to lay a solid foundation for successful and sustainable future processes. One might argue that there are already many books that include descriptions of software processes. The answer is “yes, but.” Becoming acquainted with existing software processes is not enough. It is tremendously important to understand the evolution and advancement in software processes so that developers appropriately address the problems, applications, and environments to which they are applied. Providing basic knowledge for these important tasks is the main goal of this book. Industry is in search of software process management capabilities. The emergence of the COVID-19 pandemic emphasizes the industry’s need for software-specific process management capabilities. Most of today’s products and services are based to a significant degree on software and are the results of largescale development programs. The success of such programs heavily depends on process management capabilities, because they typically require the coordination of hundreds or thousands of developers across different disciplines. Additionally, software and system development are usually distributed across geographical, cultural and temporal boundaries, which make the process management activities more challenging in the current pandemic situation. This book presents an extremely comprehensive overview of the evolution in software processes and provides a platform for practitioners, researchers and students to discuss the studies used for managing aspects of the software process, including managerial, organizational, economic and technical. It provides an opportunity to present empirical evidence, as well as proposes new techniques, tools, frameworks and approaches to maximize the significance of software process management. Audience The book will be used by practitioners, researchers, software engineers, and those in software process management, DevOps, agile and global software development. |
| earned value management construction: Cost Accounting and Financial Management for Construction Project Managers Len Holm, 2018-09-03 Proper cost accounting and financial management are essential elements of any successful construction job, and therefore make up essential skills for construction project managers and project engineers. Many textbooks on the market focus on the theoretical principles of accounting and finance required for head office staff like the chief financial officer (CFO) of a construction firm. This book's unique practical approach focuses on the activities of the construction management team, including the project manager, superintendent, project engineer, and jobsite cost engineers and cost accountants. In short, this book provides a seamless connection between cost accounting and construction project management from the construction management practitioner’s perspective. Following a complete accounting cycle, from the original estimate through cost controls to financial close-out, the book makes use of one commercial construction project case study throughout. It covers key topics like financial statements, ratios, cost control, earned value, equipment depreciation, cash flow, and pay requests. But unlike other texts, this book also covers additional financial responsibilities such as cost estimates, change orders, and project close-out. Also included are more advanced accounting and financial topics such as supply chain management, activity-based accounting, lean construction techniques, taxes, and the developer’s pro forma. Each chapter contains review questions and applied exercises and the book is supplemented with an eResource with instructor manual, estimates and schedules, further cases and figures from the book. This textbook is ideal for use in all cost accounting and financial management classes on both undergraduate and graduate level construction management or construction engineering programs. |
| earned value management construction: Dissertation Research and Writing for Construction Students Shamil Naoum, 2012-05-23 Aimed specifically at students on BSc and taught Masters programmes who are embarking on research for the first time, this book is clear with explanatory text supported by numerous examples illustrating good practice. |
| earned value management construction: EVA and Value-Based Management: A Practical Guide to Implementation S. David Young, Stephen F. O'Byrne, 2000-12-13 Economic Value Added (EVA) and Value Based Management (VBM) are today’s hottest management buzzwords. But written information has often been biased and clouded by the authors’ hidden agendas. EVA and Value-Based Management is the first book to unflinchingly discuss the pros and cons of EVA and VBM. Covering both implementation and conceptual issues, with a strong emphasis on performance measurement, value drivers, and management compensation, it allows readers to come to their own informed conclusions. |
| earned value management construction: Earned Value Management Lingguang Song, 2010-04-01 Funded by a research grant from Project Management Institute (PMI) and PMI's College of Performance Management (CPM), this study's aim is to help project managers better comprehend and gauge the current level of EVM practice and its user base. A key element of the research is a survey of more than 600 project management practitioners, providing a cross-sectional view of the most current EVM practices. To provide practical and meaningful comparison of EVM practice, respondents are classified by industry sector, motivation for EVM usage, organization role, and geographic location. |
| earned value management construction: The Great Mental Models, Volume 1 Shane Parrish, Rhiannon Beaubien, 2024-10-15 Discover the essential thinking tools you’ve been missing with The Great Mental Models series by Shane Parrish, New York Times bestselling author and the mind behind the acclaimed Farnam Street blog and “The Knowledge Project” podcast. This first book in the series is your guide to learning the crucial thinking tools nobody ever taught you. Time and time again, great thinkers such as Charlie Munger and Warren Buffett have credited their success to mental models–representations of how something works that can scale onto other fields. Mastering a small number of mental models enables you to rapidly grasp new information, identify patterns others miss, and avoid the common mistakes that hold people back. The Great Mental Models: Volume 1, General Thinking Concepts shows you how making a few tiny changes in the way you think can deliver big results. Drawing on examples from history, business, art, and science, this book details nine of the most versatile, all-purpose mental models you can use right away to improve your decision making and productivity. This book will teach you how to: Avoid blind spots when looking at problems. Find non-obvious solutions. Anticipate and achieve desired outcomes. Play to your strengths, avoid your weaknesses, … and more. The Great Mental Models series demystifies once elusive concepts and illuminates rich knowledge that traditional education overlooks. This series is the most comprehensive and accessible guide on using mental models to better understand our world, solve problems, and gain an advantage. |
| earned value management construction: Project Management for Construction Chris Hendrickson, Tung Au, 1989 |
| earned value management construction: Construction Extension to the PMBOK® Guide Project Management Institute, 2016-10-01 A Guide to the Project Management Body of Knowledge (PMBOK� Guide) provides generalized project management guidance applicable to most projects most of the time. In order to apply this generalized guidance to construction projects, the Project Management Institute has developed the Construction Extension to the PMBOK� Guide. This Construction Extension provides construction-specific guidance for the project management practitioner for each of the PMBOK� Guide Knowledge Areas, as well as guidance in these additional areas not found in the PMBOK� Guide: * All project resources, rather than just human resources * Project health, safety, security, and environmental management * Project financial management, in addition to cost * Management of claims in construction This edition of the Construction Extension also follows a new structure, discussing the principles in each of the Knowledge Areas rather than discussing the individual processes. This approach broadens the applicability of the Construction Extension by increasing the focus on the what” and why” of construction project management. This Construction Extension also includes discussion of emerging trends and developments in the construction industry that affect the application of project management to construction projects. |
| earned value management construction: CPM Scheduling for Construction Christopher Carson, Peter Oakander, Craig Relyea, 2014 The present edition, an SEI collaboration with the PMI Scheduling Community of Practice, provides readers with a reference guide that is like having an experienced scheduling professional at hand. The book itself is laid out in a way that follows the phases of building a project schedule: from project planning to project definition and schedule design, to development, maintenance, and usage of the schedule. |
| earned value management construction: Fundamentals of Project Performance Measurement Robert Raynier Kemps, 1992 |
Critical Success Factors for Earned Value Analysis in Managing ...
Abstract ction projects on time and within budget is important to achieve project objectives. Project Managers use Earned Value Analysis (EVA) in order to evaluate p oject performance at …
Value management and value engineering - RICS
EVM is a technique used in project management, for instance by contractors, to measure the progress of a project in a defined and objective manner, and assess whether resources are …
Earned Value Management as a Project Management Tool
In this paper, we propose an innovative and simple graphical framework for project control and monitoring, to know the dimensions of project cost and schedule therefore extending the …
Basic Concepts of Earned Value Management (EVM)
This article provides an introduction to the basic concepts of earned value management (EVM), from initial project planning through execution including data analysis techniques and baseline …
Earned Value Management - primavera-project.training
Basic Elements of Earned Value Management. This section discusses the three cornerstones of EVM: Planned Value (PV), Earned Value (EV) and Actual Cost (AC). It examines how these …
APPLICATION OF EARNED VALUE MANAGEMENT (EVM) …
The information will also help the construction parties, policy makers, Government and all other stakeholders who could use the findings to make improvement within the industry and
A Review on Earned Value Management and Earned Schedule …
Earned value management (EVM) and Earned Schedule (ES) are project management methodologies for monitoring project performance that have been adopted. The methodologies …
Earned Value Method (EVM) for Construction Projects: Current ...
Abstract: The earned value method (EVM) is an internationally known technique for project manage-ment that emphasizes the control of project cost performance and duration, thus …
Tracking of Construction Projects by Earned Value Management
Earned Value Management (EVM) is a technique of performance and progress measurement. EVM is a systematic approach to the integration and measurement of cost, schedule, and …
CONSTRAINTS TO IMPLEMENTING EARNED VALUE …
INTRODUCTION re several developed techniques used in project control. Earned value analysis (EVA) seems to be a widely known and accepted method to use on projects to un erstand, …
Earn value analysis of construction project using primavera p6
This paper include the purpose of earned value management, input data needed, earned value forecasting parameter, advantages & limitations of EVM, application of EVM toward project …
THE APPLICATION OF EARNED VALUE MANAGEMENT (EVM) …
Earned Value Management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress, it involves the …
A Review on Earned Value Management Analysis in …
Earned value management is a technique for assessing project performance that has been adapted for use in project management. The technique helps in comparison of budgeted cost …
Earned Value Management Tutorial Module 1: Introduction to …
Earned Value Management (EVM) is a systematic approach to the integration and measurement of cost, schedule, and technical (scope) accomplishments on a project or task. It provides both …
An Effective Study and Significance of Earned Value Analysis …
Earned value management gives a variable called Earned value which would give a simple understanding of the budgeted cost and the schedule. It indicates project manager to spot and …
CRITICAL FACTORS AND BENEFITS IN THE USE OF EARNED …
Goal: The main objective of this study is to analyze the benefits and the critical success factors (CSF) to use of Earned Value Management (EVM) in the construction projects.
Earned Value Management
Earned Value Management (EVM) is a project planning and control approach which provides cost and schedule perfor-mance measurements. It compares actual accomplishment of scheduled …
Tracking a Typical Apartment Construction using Earned …
Earned Value Management is a systematic process designed to measure project performance at various points in the project lifecycle. EVM helps project managers and project managers …
Schedule and Cost Management using Earned Value …
Earned Value Management (EVM) techniques describe the processes that are required for the effective use of Earned Value Analysis (EVA). It is a project performance measurement method …
Critical Success Factors for Earned Value Analysis in …
Abstract ction projects on time and within budget is important to achieve project objectives. Project Managers use Earned Value Analysis (EVA) in order to evaluate p oject performance at …
Value management and value engineering - RICS
EVM is a technique used in project management, for instance by contractors, to measure the progress of a project in a defined and objective manner, and assess whether resources are …
Earned Value Management as a Project Management Tool
In this paper, we propose an innovative and simple graphical framework for project control and monitoring, to know the dimensions of project cost and schedule therefore extending the …
Effective Use of Earned Value for Controlling Construction …
By utilizing Earned Value Management (EVM) principles and establishing effective project control processes both owner and contractor can effectively identify and respond to cost and schedule …
Basic Concepts of Earned Value Management (EVM)
This article provides an introduction to the basic concepts of earned value management (EVM), from initial project planning through execution including data analysis techniques and baseline …
Earned Value Management - primavera-project.training
Basic Elements of Earned Value Management. This section discusses the three cornerstones of EVM: Planned Value (PV), Earned Value (EV) and Actual Cost (AC). It examines how these …
APPLICATION OF EARNED VALUE MANAGEMENT (EVM) …
The information will also help the construction parties, policy makers, Government and all other stakeholders who could use the findings to make improvement within the industry and
A Review on Earned Value Management and Earned …
Earned value management (EVM) and Earned Schedule (ES) are project management methodologies for monitoring project performance that have been adopted. The methodologies …
Earned Value Method (EVM) for Construction Projects: …
Abstract: The earned value method (EVM) is an internationally known technique for project manage-ment that emphasizes the control of project cost performance and duration, thus …
Tracking of Construction Projects by Earned Value …
Earned Value Management (EVM) is a technique of performance and progress measurement. EVM is a systematic approach to the integration and measurement of cost, schedule, and …
CONSTRAINTS TO IMPLEMENTING EARNED VALUE …
INTRODUCTION re several developed techniques used in project control. Earned value analysis (EVA) seems to be a widely known and accepted method to use on projects to un erstand, …
Earn value analysis of construction project using primavera p6
This paper include the purpose of earned value management, input data needed, earned value forecasting parameter, advantages & limitations of EVM, application of EVM toward project …
THE APPLICATION OF EARNED VALUE MANAGEMENT …
Earned Value Management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress, it involves the …
A Review on Earned Value Management Analysis in …
Earned value management is a technique for assessing project performance that has been adapted for use in project management. The technique helps in comparison of budgeted cost …
Earned Value Management Tutorial Module 1: Introduction …
Earned Value Management (EVM) is a systematic approach to the integration and measurement of cost, schedule, and technical (scope) accomplishments on a project or task. It provides both …
An Effective Study and Significance of Earned Value Analysis …
Earned value management gives a variable called Earned value which would give a simple understanding of the budgeted cost and the schedule. It indicates project manager to spot and …
CRITICAL FACTORS AND BENEFITS IN THE USE OF EARNED …
Goal: The main objective of this study is to analyze the benefits and the critical success factors (CSF) to use of Earned Value Management (EVM) in the construction projects.
Earned Value Management
Earned Value Management (EVM) is a project planning and control approach which provides cost and schedule perfor-mance measurements. It compares actual accomplishment of scheduled …
Tracking a Typical Apartment Construction using Earned …
Earned Value Management is a systematic process designed to measure project performance at various points in the project lifecycle. EVM helps project managers and project managers …
Schedule and Cost Management using Earned Value …
Earned Value Management (EVM) techniques describe the processes that are required for the effective use of Earned Value Analysis (EVA). It is a project performance measurement method …
