International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 04 Issue: 07 | July -2017
p-ISSN: 2395-0072
www.irjet.net
Application of Earned Value Method and Delay Analysis on Construction Project to Analyse Cost and Schedule Rudresh L.1, Shashank U. Vanakudari 2 1P.G
students, M. Tech, Department of Civil Engineering, Jain College of Engineering, Belagavi, Karnataka, India Professor, Department of Civil Engineering, Jain College of Engineering, Belagavi, Karnataka, India ----------------------------------------------------------------------***--------------------------------------------------------------------beyond the planned schedule and it is one of the common ABSTRACT – In construction industry there are many 2Assistant
problems in construction projects. It is important to find the actual reasons or causes in project delay because to control the delay in project future and minimize delay in upcoming projects which results in cost over turn. As per PMBOK to determine the cost and schedule variation, the earned value management is one of the tools used.
confrontations and increasing day to day. Above all this confrontation a very important is to improve the performance of the project with reference to cost and schedule to overcome this confrontations. To achieve this one of the best tool is earned value methodology to analyse and measure performance of construction project. It is helpful in measuring progress and determining unfavourable issues. And delay analysis is a process of analysing the project delay, helps finding the root causes for the delay in project. Both earned value and delay analysis is carried out using Microsoft project software program. The main object of this project work is to measure the performance and analyse the construction project with respect to cost and schedule. For this project work a delayed construction project was selected as a case study to carryout analysis to know performance of construction project and to find the critical issues respect to cost and schedule and delay analysis to find the variance in duration and root causes for the delay in project.
In this project, my important target is to study earned value method as a monitoring and controlling tool to check the progress track. By doing this we get the proper costs and time related viewpoint of the project at the particular stage. In addition, can forecast that time required in the future completion of project and calculates the cost required for continuing the project in best planed pace. Also studying the common issues in construction project delay. If the project is not in planned pace. Finding the root causes for delay in project.
2. TERMINOLOGIES
Key Words: Earned Value Management, Earned Value Analysis (EVA), Delay Analysis, MS Project
2.1 Earned Value Management Earned value management (EVM) is a method that is a combination of scope, schedule and resource measurements to help project performance and its progress. It is a widely used method of performance measurement for projects. EVM is valuable technique to find the real gains and losses on projects and helps in providing sort to balance profit/losses and minimize losses. It is a powerful tool to control concurrently cost and physical performance. The project managers and management can track possible areas that area susceptible to risk. They can create plans suitability. In short earned valve methodology takes care of problems through timely remedial action before they become too great to overcome.
1. INTRODUCTION In an increasingly challenging world, the markets have an intense contest, customer satisfaction had increased the central pivot of many company of construction industry and they want to be successful. The fulfilment not only comes from the quality and performance but also through time and cost indices in construction. Now a days the environment and social issues are rising so, to minimize the wastage a good allocation of resources is important. Construction field is one of the most important sector in development of countries like India. This faces challenges day to day. Contribution from this field to growth of a country’s economy to a large extent. The construction project main issue with a project time and cost overturn. This caused by the various reasons, so results in project budget overturns and cannot complete the project in scheduled time. In spite of many decades of practice and academic attention project performance, remains problematic, verifiable evidence suggests that projects do not generally achieve the required scope, are frequently delay, and perform badly on quality of deliverables as well as on cost budgets.
2.2 Earned Value Parameters Current fields that measures different features of earned value are the earned value fields. There are mainly 3 terms, which identify earned value concept. Planned Value: PV or budgeted cost of work scheduled it measures budgeted cost of individual tasks/actives based on the resources and fixed costs that are assigned to tasks when schedule them.
In construction industry, delay is project beyond the completion date as stated in the contract agreement. It is
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