Follow us
Follow us
Discover how implementing this method can optimise project progression and outcome.
In the fast-paced business environment of the construction industry, even meticulously planned projects can encounter unforeseen challenges. This leads to construction project delays, budget overruns, and missed deadlines. Industry reports indicate a concerning statistic: a staggering 70% of construction projects fail to meet their original goals.
However, there is a powerful tool at your disposal to significantly improve project outcomes: earned value management (EVM). This project management technique goes beyond basic task tracking. It leverages real-time data to provide a comprehensive picture of a project’s health, allowing project teams to proactively identify potential issues, make informed decisions, and course-correct before problems escalate.
Let’s explore how implementing EVM measures can improve project control and performance, ultimately leading to better construction project outcomes.
EVM tracks project progress against budget and schedule baselines. Deviations from the baseline become readily apparent, allowing teams to identify potential risks and cost overruns early on. This foresight enables proactive intervention to minimise negative impacts, which includes adjusting work schedules, optimising resource allocation, or initiating negotiations with vendors.
EVM utilises key metrics like earned value (EV), schedule performance index (SPI), and cost performance index (CPI) to provide an objective assessment of project health. EVM allows for performance comparisons against historical data or industry benchmarks. These metrics go beyond subjective gut feelings, offering clear and quantifiable data for informed decision-making.
EVM fosters improved communication and collaboration between project stakeholders. EVM data can be effectively communicated through reports and visualisations, facilitating better communication across different project teams. This ensures everyone is kept informed about the project's progress and potential roadblocks, enabling timely collaboration and decision-making.
By understanding project progress through EVM, teams can move beyond guesswork when allocating resources. EVM data highlights if a project is falling behind schedule or exceeding budget allocations. Real-time data reveals activities needing extra support or underutilised resources. Project teams can strategically reassign personnel and equipment, thus maximising project efficiency.
Project teams often aim to deliver optimised project outcomes, meet set deadlines, and stay within budget. However, they often fall short of these expectations.
Compass Consult is here to help you navigate these hurdles. Our team of experienced professionals specialises in teaching project teams how to leverage EVM. We also offer comprehensive support for the implementation of Primavera P6 project management software, provide expert consultations, and conduct training sessions.
Contact Compass Consult today to leverage our expertise in Earned Value Management systems and enhance your project management capabilities.
“I got trained for Primavera P6 PPM through Compass Consult. Honestly, the things that got me in were their competitive pricing and payment plans in offer. The thing that I highly admire about the training is that it is a very practical, hands-on training wherein you can learn while working on your own project. The trainers are highly experienced and fundamentally strong. I would strongly recommend the training to someone who needs hands-on experience in P6.”
“We got our Primavera P6 EPPM software and Installation done through Compass Consult. The solution that was given was a good fit for our company size and compliant for the types of projects that we do. One thing that I admire a lot is the customer service team who were very quick in resolving any queries we had and gave us full clarity of the process. I recommend Compass Consult to any company looking for a genuine solution to their Project Management needs.”
“We found Compass Consult through an online search and got competitive pricing from them on Primavera P6 implementation and consultancy. We found their delivery team easy to deal with and it was a smooth process overall with a great hassle-free experience. I would highly recommend working with Compass Consult for setting up your project controls systems and processes.”
"Compass has bent over backwards to meet the needs of SRG Global. They have been patient as we went through the process of reviewing and approving the equipment. Equipment was then delivered promptly to the location we requested. The project does not start until the new year, but given the excellent service thus far, I am highly confident it will not have any issues with the network connectivity setup."
EVM provides a structured framework for monitoring and controlling project costs throughout the project lifecycle. By comparing earned value to actual costs incurred, EVM identifies cost variances and deviations from the budget baseline.
EVM data from completed projects serves as a valuable resource for future endeavours. By analysing past performance trends and lessons learned, project managers can refine project plans, resource allocation, and risk management strategies for upcoming projects, leading to improved overall performance.
Fill in your details in the form below and one of our consultants will contact you as soon as possible.
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.
Australia
Useful links
© 2025 Compass Consult. All Rights Reserved. Web Design & Development by Hype Insight
© 2023 Compass Consult. All Rights Reserved.
Terms and Conditions