Project Monitoring and Early Warning of Time-Cost Overruns in Earned Value Management

 

Abstract

Project monitoring and control processes are crucial aspects of project management. To perform an appropriate project tracking, Earned Value Analysis (EVA) has to be implemented to help the project managers to measure project performances. A tool to monitor and control the cost, time and work done of a construction project. Furthermore, it also provides an “Early Warning” signal for immediate corrective action. Thereby, in this study, some work items related to a completed real life construction project were evaluated according to the method of Earned Value and the result implies that the analysis can be very useful in project forecasting and decision making relevant to early warnings.


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