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Our solutions are a perfect amalgamation of baseline methods, earned value analysis and in-depth planning to facilitate better visibility into program performance.
Over the years, we have rendered business-oriented, earned value management systems to ambitious clients who catered projects for government bodies, councils, and private sector conglomerates.
We have a vast experience spanning almost a decade and since we do not believe in ‘one size fits all’, we stay away from offering off-the-shelf solutions resulting in a bleak and over-engineered system.
Compass Consult’s earned value management experts very well understand the nitty-gritty of the project and are proficient with the process.
Compass Consult’s earned value management experts very well understand that the success of your project heavily depends on a myriad of decisive factors.
We have a pool of EVM consultants and trainers who are well-versed with the nitty-gritty of earned value management.
We are committed to conduct a full:
EVM is all about benchmarking against a well-defined strategy. What this means is that in order to implement EVM successfully you need to have some key fundamentals in place.
The level of detail and overhead needed to implement EVM varies based on a number of components including project size, organisational maturity, contractual requirements, and complexity. Here are some of the fundamentals you need to keep in mind.
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Choose from one of our three plans, or we can tailor a solution to your needs.
FIXED
A fixed price for the project/work based on the work to be done. Model is suitable where all project inputs/specs/requirements are defined
TIME & MATERIAL
An hourly rate(s) provided based on the required work to be done. Model works well where all inputs are not readily available
DEDICATED TEAM
Retainer model pricing is based on the type of work and the duration. A dedicated team works as an extended team of the client
“The Compass consultant’s depth of knowledge was excellent. He thoroughly worked through the issues that I was experiencing. Communicated the issues, provided likely timeframes to resolve and met the timeframes nominated. Could not be happier with his level of professionalism and the service he offered.”
"We worked with Compass Consult as our Primavera P6 consultants. Girish and his team were able to prepare a proper plan with resources in the master schedule. Throughout, he referred to the contract documents thoroughly to make sure that all deliverables and coding specifications were taken into account. I admire their dedication towards the job they take on hand and would strongly recommend their programme management services for complex construction projects."
Circular Quay Tower (Salesforce Tower)
Client: Schneider Electric
Contract value: $1.5 Billion
Project Snapshot:
The Salesforce Tower is a skyscraper under construction in Circular Quay, Sydney, Australia. The building will be the city’s tallest office building at a height of 263.1 metres on its scheduled completion date of mid-2022. It is part of a A$5 billion redevelopment of the Circular Quay precinct, alongside the new buildings of Quay Quarter Tower, One Circular Quay, 56 Pitt Street, Sydney, 200 George Street, the terminus of the new CBD and South East Light Rail and redevelopment of the ferry wharves. The building is being constructed by Lendlease.
Software company Salesforce acquired naming rights to the tower in late 2019 and will occupy 24 levels of the building upon its completion.
Our Scope:
Primavera P6 Programme Consultancy Support for Scheider Electric. Includes Delay and Extension Of Time Claims.
Tronox Atlas Mine Project
Client: MAAS Civil
Contract value: $200 Million
Project Snapshot:
Tronox is planning to commence a fourth mine called Atlas-Campaspe in the Murray Basin. Atlas Campaspe is located 80 km north of Balranald and approximately 270 kms from Broken Hill. Development on the ground commenced in 2018. At this stage, initial clearing along the mine path has been completed and topsoil stripping, in accordance with the environmental plan, is proceeding. Construction at the site and rail siding is planned to commence in early 2019 with production starting in the second quarter of 2022.
Our Scope:
Primavera P6 Programme Consultancy Support for MAAS Civil. Includes Delay and Extension Of Time Claims along with progress updates.
Sydney Harbour Bridge Project
Client: Alimak Group
Contract value: $29.4 Million
Project Snapshot:
The NSW Government through Roads and Maritime Services has signed a contract with Manntech in Australia for a vertical access solution project based on BMUs, worth MSEK 170. The BMUs will be designed and manufactured at the Manntech factory in Germany. This is the largest order ever awarded to Alimak Group.
The project covers design, manufacturing, installation and service of two large motorized high complexity gantries spanning the bridge carrying Building Maintenance Units (BMUs), to enable full access for maintenance purposes on the iconic structure.
Our Scope:
Primavera P6 Programme Consultancy Support for Alimak Group. Includes Delay and Extension Of Time Claims along with progress updates.
Dupont
The client: DuPont is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in the development of Delaware and first arose as a major supplier of gunpowder.
The challenge
With a diverse and global network of research centers and manufacturing sites, DuPont has
a dedicated project controls team for each location that manages the entire project portfolio within their sites. Managing project data from different sites across the organization caused a challenge for reporting at an enterprise level causing delayed reporting, manual errors, and mismatches in key resource directories to name a few. It was time to move to a cloud-based solution that would provide a connected, holistic view of the enterprise project portfolio structure and position them for the next stage of growth.
The results
Working in partnership with Compass Consult to enhance their Primavera P6 capabilities
has ensured DuPont now have a centralized Project Controls system on the cloud, this
increases visibility across all site with real-time reporting and dashboard capabilities
while gaining increased efficiencies in resource management and accurately forecasts
project progress and funding requirements
Dupont
The client: DuPont is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in the development of Delaware and first arose as a major supplier of gunpowder.
The challenge
With a diverse and global network of research centers and manufacturing sites, DuPont has
a dedicated project controls team for each location that manages the entire project portfolio within their sites. Managing project data from different sites across the organization caused a challenge for reporting at an enterprise level causing delayed reporting, manual errors, and mismatches in key resource directories to name a few. It was time to move to a cloud-based solution that would provide a connected, holistic view of the enterprise project portfolio structure and position them for the next stage of growth.
The results
Working in partnership with Compass Consult to enhance their Primavera P6 capabilities
has ensured DuPont now have a centralized Project Controls system on the cloud, this
increases visibility across all site with real-time reporting and dashboard capabilities
while gaining increased efficiencies in resource management and accurately forecasts
project progress and funding requirements
Dupont
The client: DuPont is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in the development of Delaware and first arose as a major supplier of gunpowder.
The challenge
With a diverse and global network of research centers and manufacturing sites, DuPont has
a dedicated project controls team for each location that manages the entire project portfolio within their sites. Managing project data from different sites across the organization caused a challenge for reporting at an enterprise level causing delayed reporting, manual errors, and mismatches in key resource directories to name a few. It was time to move to a cloud-based solution that would provide a connected, holistic view of the enterprise project portfolio structure and position them for the next stage of growth.
Dupont
The client: DuPont is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in the development of Delaware and first arose as a major supplier of gunpowder.
The challenge
With a diverse and global network of research centers and manufacturing sites, DuPont has
a dedicated project controls team for each location that manages the entire project portfolio within their sites. Managing project data from different sites across the organization caused a challenge for reporting at an enterprise level causing delayed reporting, manual errors, and mismatches in key resource directories to name a few. It was time to move to a cloud-based solution that would provide a connected, holistic view of the enterprise project portfolio structure and position them for the next stage of growth.
The results
Working in partnership with Compass Consult to enhance their Primavera P6 capabilities
has ensured DuPont now have a centralized Project Controls system on the cloud, this
increases visibility across all site with real-time reporting and dashboard capabilities
while gaining increased efficiencies in resource management and accurately forecasts
project progress and funding requirements
Earned Value Management (EVM) is a structured methodology utilised in project management to evaluate a project's performance concerning cost, schedule, and scope. It involves comparing the planned value (budgeted cost of work scheduled) with the actual cost incurred and the value of work completed. Through this comparison, project managers can identify discrepancies from the project baseline and implement corrective measures when necessary.
EVM offers numerous advantages for construction projects, including enhanced project control and visibility, early detection of potential cost and schedule overruns, informed decision-making, improved communication and collaboration among stakeholders, and ultimately, higher project success rates.
Earned Value Management relies on three primary components:
There are various methods to calculate Earned Value (EV), depending on the project's nature and complexity. One common approach involves multiplying the percentage of work completed for a specific activity by its budgeted cost.
Discrepancies from the baseline (variations between Planned Value, Earned Value, and Actual Cost) can serve as indicators of potential project risks. Analysing these trends enables project managers to pinpoint areas where the project may deviate from its intended course and take proactive measures to mitigate associated risks.
EVM is not obligatory for all construction projects. However, it is a recommended practice for complex projects, especially those with substantial budgets or tight schedules. Government contracts may also stipulate specific EVM requirements.
Several project management software tools support EVM implementation. Primavera P6, as mentioned on our webpage, is one such example, enabling users to monitor and analyse EVM data effectively.
Various online resources and industry organisations offer detailed insights into EVM and its advantages for construction projects. Our website serves as a valuable starting point, alongside professional associations and project management communities. Feel free to explore these resources for a deeper understanding of EVM's benefits in construction project management.
When evaluating your project performance there are 3 earned value methods to consider:
Imagine you’re building a hydropower plant and the project is estimated to cost $1,000,000 with an estimated completion period of 1 year. The project has already been running for 6 months costing $570,000. EVM helps you calculate the Planned Value (PV), Earned Value (EV), and Actual Cost (AC).
The metrics that EVM takes into consideration are Planned Value (PV), Earned Value (EV), and Actual Cost (AC). Think of these metrics as helping you measure project performance.
If you have any questions on Primavera P6 that you need advice on we would love to hear from you, Please complete the form below and a product expert will be in touch in 60 minutes.
Compass Consult is a globally recognized project portfolio management service provider. Our team comprises experienced civil engineers, risk management experts, and project controllers with outstanding track records for delivering exceptional project planning, earned value management, cost control, and schedule control services.
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