EARNED VALUE ANALYSIS FOR A CONSTRUCTION PROJECT

Cost over-runs and time over-runs are prevalent in most of the projects carried out in developing nations such as India. There may be multiple reasons for these overruns. In order to reduce them, there should be efficient use of the construction softwares available in the market. This paper emphasises the use of these softwares to reduce these issues by the use of a scientific technique called earned value analysis. Earned Value Analysis is an industry standard method of measuring a project’s progress at any given point of time, fore casting its completion date and final cost, analysing variances in the schedule and budget as the project proceeds.