COST MANAGEMENT IN THE CONSTRUCTION OF AFFORDABLE HOUSING UNITS IN KERALA: A CASE STUDY OF THE RELEVANCE OF EARNED VALUE ANALYSIS (EVA) APPROACH

Construction of houses and other residential buildings is of utmost significance in India today because housing sector is a national priority in the country. Government of India is mandated to attain the national housing goal of ‘Affordable Housing for All by 2022'. So, the Government is providing many incentives and budgetary support to promote rapid housing development in the country, particularly for the ‘Affordable Housing' segment–the housing for the lower income segments of the population. As cost effective housing construction without compromising on quality is vital for attaining the national housing goal, the need for using scientific cost management approaches need not be overemphasized. This paper analyzes as to how the Earned Value Analysis (EVA) approach may be used as an effective tool for scientific cost management in the construction of Affordable Housing units.