Practical application of Earned Value Method to evaluation of progress status of medium size construction projects

Abstract

Earned Value Method (EVM) became in recent years the global standard for describing of the current time/budget status of engineering projects. It is the most preferred tool by international construction arbitrage bodies, in case the advancement of the construction project for a given date must be defined in a commonly recognizable way. Application of the method in every day site practice needs 2-3 people team dedicated just for that task, so the EVM it is used rather for large projects. However, using of the method in its reduced scale, as presented in the paper, can be fully economic also for medium size construction projects and provides set of information that can be very helpful for site managers in decision making processes. The numerical example of EVM used for medium size apartment construction project has been presented in the paper to illustrate the proposed concept of using EVM to the reduced extend.