TOWARDS EFFECTIVE EARNED VALUE TECHNIQUE IN CONSTRUCTION MANAGEMENT

In traditional project management, experts used to monitor each of cost and schedule apart from each other; however, this is not the clever way to do that. Earned Value is considered the best technique to correlate, analyze and compare the project's scope, schedule and cost to evaluate current project performance and estimate future values required for planning of corrective action, if needed. This paper aims to illustrate the basic information required for creating Earned Value Management System through applying of simple example in addition to reviewing its main advantages and disadvantages. Also, this paper will present the evolution of the earned value technique in modern project management field such as the new reporting approach and earned schedule technique.