Survey of the Earned Value Management Practice in Construction
Abstract:
Earned value management (EVM) has been introduced in 1967 by the United States federal government. Ever since its introduction, various regulatory bodies have provided guidelines to aid industry to implement the earned value technique. Project management institute (PMI) earned value management document, for instance, defines the organizational structure required to implement the earned value management. Prescribed requirements, nonetheless, are not entirely implemented by industry. This study intends to survey the implementation level of the earned value management system requirements in construction industry. The backbone of the questionnaire is based on the PMI earned value document which is a simplified version of the American national standards institute (ANSI/EIA 748) standard. This study aims to provide a better insight into the EVM project control approach and identifies gaps between recommended guidelines and practice. Furthermore, outcomes of the survey highlight shortcomings of the earned value management method and a possible change in practitioner’s perception over time by comparing findings with outcomes of previous studies. Knowing shortcomings and challenges of the EVM system can also provide a path forward for the future research of regulatory bodies as well as academia.
