TY - JOUR
T1 - Application of earned value method and earned schedule method for a residential apartment
AU - Vaibhava, S.
AU - Rao, B. Prakash
AU - Shetty, Dheeraj Vishwanatha
AU - Prakash, Chandra
N1 - Publisher Copyright:
© Published under licence by IOP Publishing Ltd.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2020/12/22
Y1 - 2020/12/22
N2 - Earned Schedule Management (ESM) gives an estimate of schedule and milestone achievement dates. Earned Value Management (EVM) assists to follow the project performance by giving the schedule variance, cost variance and their performance index. EVM &ESM helps the project manager to foresee cost and schedule for the real project. The objective of this study is to apply EVM & ESM to the real time residential apartment project which is upcoming in Bengaluru, Karnataka, India and then to compare the results of two deterministic forecasting methods EVM and ESM. The EVM and ESM parameters are generated by using the data procured from the planning department. It shows much fluctuation in the project performance but the last months (M10) results reveal that the project is behind schedule, unfavorable budget and needs more amelioration. The project has an unfavorable Cost Variance of -0.91(budget in crores of INR, 1 crore = 10millions)) and schedule variance of -6.71months. It is also observed from the results and actual project situations that Earned Value and Earned Schedule methods in conjunction gives more accurate interpretation than using each of them detachedly.
AB - Earned Schedule Management (ESM) gives an estimate of schedule and milestone achievement dates. Earned Value Management (EVM) assists to follow the project performance by giving the schedule variance, cost variance and their performance index. EVM &ESM helps the project manager to foresee cost and schedule for the real project. The objective of this study is to apply EVM & ESM to the real time residential apartment project which is upcoming in Bengaluru, Karnataka, India and then to compare the results of two deterministic forecasting methods EVM and ESM. The EVM and ESM parameters are generated by using the data procured from the planning department. It shows much fluctuation in the project performance but the last months (M10) results reveal that the project is behind schedule, unfavorable budget and needs more amelioration. The project has an unfavorable Cost Variance of -0.91(budget in crores of INR, 1 crore = 10millions)) and schedule variance of -6.71months. It is also observed from the results and actual project situations that Earned Value and Earned Schedule methods in conjunction gives more accurate interpretation than using each of them detachedly.
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U2 - 10.1088/1742-6596/1706/1/012117
DO - 10.1088/1742-6596/1706/1/012117
M3 - Conference article
AN - SCOPUS:85098494356
SN - 1742-6588
VL - 1706
JO - Journal of Physics: Conference Series
JF - Journal of Physics: Conference Series
IS - 1
M1 - 012117
T2 - 1st International Conference on Advances in Physical Sciences and Materials 2020, ICAPSM 2020
Y2 - 13 August 2020 through 14 August 2020
ER -