Earn Value Management a Boon to Indian Construction Industry

Abstract

Earned Value Management (EVM) is a systematic approach to the integration and measurement of cost, schedule, and technical (scope) accomplishments on a project or task. It provides both the government and contractors the ability to examine detailed schedule information, critical program and technical milestones, and cost data. .EVM technique can do forecasting of duration for a project .It gives a well-defined pathway of existence to the project and when to take precautionary measures for updating the project if project is behind the schedule. It can be used to identify the cost overruns and time overruns. EVM technique can be applied using certain software's like MSP, Primavera, etc.