Incorporating earned value analysis in project management to improve schedule control

Boost your schedule control and project success with earned value management. Read on to learn more.

Why is earned value analysis important for construction projects?

Earned value analysis in project management is a valuable tool that provides a comprehensive view of project performance by integrating scope, schedule, and cost metrics. This is especially valuable for construction projects that tend to span a sizable length of time—where 60% of project professionals believe that poor resource management is a significant problem in project management. EVA offers invaluable insights into project progress and potential issues.

By incorporating earned value analysis into your project management practices, you can significantly enhance schedule control, leading to more accurate forecasts, better resource allocation, and improved project outcomes. This powerful technique allows project managers to make data-driven decisions and take proactive measures to keep projects on track.

The benefits of earned value analysis in project management for construction projects

Only 43% of businesses reported that they always, or mostly, finish their construction projects within the allotted budget. Earned value analysis in project management can address this issue by easing schedule control, allowing project managers to monitor the status of project activities and implement changes to achieve targets.

Here’s how this is facilitated:

Detect scheduling changes early

EVA provides a clear picture of schedule performance by comparing planned construction activities with the actual completed work. Early identification allows project managers to plan for deviations from the set schedule before they become critical issues. This means that construction teams can implement corrective actions early so that project timelines and budgets aren’t impacted.

Measure progress accurately

EVA offers an objective and quantifiable measure of the progress of the project. Project managers can use the SPI to determine if the construction project is ahead or behind schedule based on the value of completed work. This further assists data-driven decision-making and optimises resource allocation, ensuring that the project stays on track to achieve the scheduled timelines.

Objective performance measurement

Improved forecasting capabilities

EVA enhances the construction manager’s ability to forecast future performance based on current project status. They can analyse SV scores and SPI to direct teams towards set completion dates for various stages of the construction and identify areas where additional resources are needed. This further helps prevent schedule overruns impacting current and upcoming building phases.

Enhanced stakeholder communications

Since EVA provides a standardised method of reporting the status of the construction project, communications with different stakeholders–like clients, subcontractors, and regulatory bodies–become much more streamlined. This allows construction managers to easily justify decisions, secure necessary resources, and maintain stakeholder confidence crucial for timely project completion.

Cost management

Integration of scope, schedule, and cost

EVA seamlessly integrates scope, schedule, and cost metrics into a unified view of project performance. This allows managers to understand the interdependencies between the different factors of a construction project and make informed decisions—allowing teams to manage material deliveries, workforce availability, and site conditions to minimise disruptions and keep the project on schedule.


Continuous improvement opportunities

Implementing EVA provides valuable data for post-construction reviews and lessons-learned sessions. By analysing the patterns in schedule performance throughout a project, teams can identify recurring issues, successful strategies, and areas for improvement in construction methods. This knowledge can be applied to future projects,  leading to continuous improvement in schedule control.

Elevate your construction project outcomes with earned value management from Compass Consult

Compass Consult’s earned value management services are key for focusing on continual improvement, contract compliance, reduced risks and quicker project delivery.

Our EVM consultants and trainers provide a full gap analysis, earned value management system implementation, and compliance and assessment to ensure that your project maintains its forecast timeline and budget.

Partner with Compass Consult and gain the expertise and tools to achieve superior schedule control and deliver exceptional project outcomes. Get in touch.

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Frequently Asked Questions

What is the difference between earned value analysis and traditional project tracking methods?

Earned value analysis provides a more comprehensive view of project performance by integrating scope, schedule, and cost metrics. Unlike traditional methods that often focus on one aspect, EVA offers a quantifiable measure of progress and performance, allowing for more accurate forecasting and proactive decision-making.

How can earned value analysis improve schedule control in construction projects?

Earned value analysis enhances schedule control by providing early detection of variances, accurate progress measurement, and improved forecasting capabilities. This allows project managers to identify and address potential delays promptly, allocate resources more effectively, and make data-driven decisions to keep projects on track.

Is earned value analysis suitable for all types of construction projects?

While earned value analysis can be beneficial for many construction projects, it is particularly valuable for complex, long-term projects with multiple phases or components. It is especially useful for projects where accurate reporting and stakeholder communication are crucial.

Eager to learn more about earned value analysis? Get in touch with Compass Consult

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