Application of Earned Value Based Metrics to Enhance the Performance Measurement of Engineering Project Management

Year 2017, Volume:6 ICOCEE Special Issue, 431 - 439, 27.12.2017

Muhammed Azim Eırgash , Vedat Toğan , Aynur Kazaz

https://doi.org/10.17100/nevbiltek.316816

Abstract

Earned value
management (EVM) includes cost control and considers resource planning and
management techniques for schedule and technical performance. The present study
aims to show the theoretical and practical dimension of performance measurement
on a small-scale construction project using the earned value methodology, and
thereby contribute to its wider practical application. In addition, the usage
of the correlation between the schedule performance index and cost performance
index and the meaning of indices such as budgeted cost of work scheduled,
budget cost of work performed, and the actual cost of work performed is illustrated
in detail to analyze the performance of EVM application in the project
management.

Keywords

Earned value management, Engineering project, Project management, scheduling, Performance index

Mühendislik Proje Yönetiminin Performans Ölçümünü Geliştirmek İçin Kazanılan Değer Esasına Dayalı Ölçütlerin Uygulanması

Abstract

Kazanılmış değer yönetimi (KDY) projelerin maliyet kontrolü, zaman
planlaması ve teknik performansı için kaynak planlaması ve yönetim tekniklerini
içermektedir. Bu çalışma, kazanılmış değer yöntemi metodolojisini kullanarak
küçük ölçekli bir inşaat projesinde performans ölçümünün teorik ve pratik
boyutunu göstermeyi ve böylece daha geniş bir pratik uygulamaya katkıda
bulunmayı amaçlamaktadır. Ayrıca, zaman performans indeksi ile maliyet
performans endeksi arasındaki ilişkinin kullanımı ve planlanan işin bütçelenmiş
maliyeti, gerçekleştirilen işin bütçe maliyeti gibi endekslerin anlamı, proje
yönetiminde KDY uygulaması ile proje performansının analiz edilmesinde
ayrıntılı olarak gösterilmektedir.

Keywords

Kazanılan değer yönetimi, Mühendislik projesi, Proje yönetimi, Çizelgeleme, Performans endeksi

References

• Referans1 R. Avlijaš and G.; Avlijaš, Upravljanje projektom. Beograd: Univerzitet Singidunum, In Serbian, 2010.
• Referans2 S. Leu, A. Chen and C. Yang, “A GA-based fuzzy optimal model for construction time–cost trade-off”, International Journal of Project Management, 19(1), 47 – 58, 2001.
• Referans3 Q.W. Fleming and J.M. Koppelman, “Earned Value Project Management, Project Management Institute, Newtown Square, PA, 1996.
• Referans4 E. Kim, W.G. Wells and M.R. Duffey 2003. A model for effective implementation of Earned Value Management methodology. International Journal of Project Management, 21(5), 375 - 382.
• Referans5 Vandevoorde, S. & Vanhoucke, M. “A comparison of different project duration forecasting methods using earned value metrics”. International Journal of Project Management, 24(4), 289–302, 2005.
• Referans6 Lipke et al. “The probability of success”. The Journal of Quality Assurance Institute, January, 14–21, 2004.
• Referans7 Acebes et al. “Beyond Earned Value Management: A Graphical Framework for Integrated Cost, Schedule and Risk Monitoring”. Procedia - Social and Behavioral Sciences, 74, 181-189, 2013.
• Referans8 Czemplik, A. “Application of Earned Value Method to Progress Control of Construction Projects”. Procedia Engineering, 91, 424-428, 2014.
• Referans9 S. Noori, M. Bagherpour and A. Zareei, Applying fuzzy control chart in earned value analysis: a new application. World Applied Sciences Journal, 3(4), 684 – 690, 2008.
• Referans10 D.S. Christensen and C. Templin, EAC evaluation methods: do they still work. Acquisition Review Quarterly 9, 105 – 116, 2002.
• Referans11 Moslemi-Naeni et al. “Evaluating fuzzy earned value indices and estimates by applying alpha cuts”. Expert Systems with Applications, 38(7), pp.8193-8198, 2011.
• Referans12 Pajares, J. & López-Paredes, A. “An extension of the EVM analysis for project monitoring: The Cost Control Index and The Schedule Control Index”. International Journal of Project Management, 29, 615–62, 2011.
• Referans13]B. Wilson, T. Ariyachandra and M. Frolick, Earned value management systems: Challenges and future direction. Journal of Integrated Enterprise Systems, 2(1). 9 – 17, 2013.