EARNED VALUE MANAGEMENT SYSTEM FOR EVALUATING PROJECT PERFORMANCE

1Arief Rahmana, Verani Hartati

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Abstract:

The project management is becoming a well-known and popular science to engineers to make project planning and controlling effectively in compliance with clients’ contractual requirements. Successful projects was indicated by achievement of meeting project requirement and specification and be completed on schedule and within budget. To gain a successful project, an effective project control approached must be designed, developed, and implemented to provide insight into how to finish project with timely and within budget. It is believed that Earned Value Management System (EVMS) able to control project effectively, on account of it integrate Scope, Schedule, and Cost of the Project. EVMS can obtain early warning and predict the outcome of projects. If our projects didn’t meet certain requirements and specifications, we will know earlier before we continue our project. The main key metrics of EVMS are Planned Value (PV), Earned Value (EV), and Actual Cost (AC), and Budgeted at Completion (BAC). Finally, this paper described the concept and application of EVMS to control project performance in order to project be completed on schedule and within budget.

Keywords:

scope, time, cost, earned value

Paper Details
Month1
Year2020
Volume24
IssueIssue 2
Pages7721-7726