Time and Cost Management in Water Resources Projects Utilizing the Earned Value Method
Article Sidebar
Main Article Content
Abstract
Today, the development of infrastructure and construction projects in developing countries is of paramount importance. Water projects, in particular, play a crucial role in advancing agriculture, industry, and the economy. The success of these projects hinges on the effective management of time, cost, and quality. The most critical indicator of a project's success is its completion within the forecasted time and budget leading up to its operation. This study aims to assess the impact of Earned Value Management (EVM) 's impact on managing project schedules and budgets in water resource projects. The earned value method was employed to ascertain if the project was ahead or behind schedule and whether the costs were within the budget or had overrun. The values of the Earned Value Index were analyzed at three stages of project implementation. Examining the Schedule Variance (SV) at various phases indicates that a lower percentage is more advantageous for the project. Initially, the SV was 40%, signaling a delay mainly due to the delayed start of operations in the injection gallery and access points. This improved to 25% in the second stage, with the commencement of previously lagging activities. The schedule variance decreased to 11.6% in the final stage, aligning closer to the project schedule's end. Additionally, the Schedule Performance Index (SPI) value, which reflects the efficiency of project management in terms of timeliness, improved from a weak start of 0.6 to 0.88 (with 1.0 indicating that project performance is on target).
Article Details
This work is licensed under a Creative Commons Attribution 4.0 International License.
Journal of Studies in Science and Engineering is licensed under a Creative Commons Attribution License 4.0 (CC BY-4.0).
References
J. Deng and W. Jian, "Estimating construction project duration and costs upon completion using monte carlo sim-ulations and improved earned value management," Buildings, vol. 12, no. 12, p. 2173, 2022.
X. Lin, A. N. Mazlan, S. Ismail, L. Hu, E. H. B. Kasiman, and K. Yahya, "Status of value management studies in construction projects: A systematic review," Ain Shams Engineering Journal, vol. 14, no. 1, p. 101820, 2023.
A. M. Z. Ghareeb, "Implementation status of Value Management Practice in Egyptian construction projects," Journal Webpage: https://njace. journals. ekb. eg/publisher, vol. 2, no. 2, 2023.
K. A. Ngo, G. Lucko, and P. Ballesteros-Pérez, "Continuous earned value management with singularity functions for comprehensive project performance tracking and forecasting," Automation in Construction, vol. 143, p. 104583, 2022.
A. Balali, A. Valipour, J. Antucheviciene, and J. Šaparauskas, "Improving the results of the earned value management technique using artificial neural networks in construction projects," Symmetry, vol. 12, no. 10, p. 1745, 2020.
A. Miguel, W. Madria, and R. Polancos, "Project management model: Integrating earned schedule, quality, and risk in earned value management," in 2019 IEEE 6th International Conference on Industrial Engineering and Applications (ICIEA), 2019: IEEE, pp. 622-628.
M. Yılmaz and T. Dede, "Multi-objective time–cost trade-off optimization for the construction scheduling with Rao algorithms," in Structures, 2023, vol. 48: Elsevier, pp. 798-808.
W. Peng, X. Lin, and H. Li, "Critical chain based Proactive-Reactive scheduling for Resource-Constrained project scheduling under uncertainty," Expert Systems with Applications, vol. 214, p. 119188, 2023.
W. Lipke, "Earned Schedule: Forecasting Project Duration Increase from Rework," 2023.
P. Urgilés, J. Claver, and M. A. Sebastián, "Analysis of the earned value management and earned schedule techniques in complex hydroelectric power production projects: Cost and time forecast," Complexity, vol. 2019, 2019.
J. Konior and M. Szostak, "The S-curve as a tool for planning and controlling of construction process—case study," Applied Sciences, vol. 10, no. 6, p. 2071, 2020.
E. Jääskä, J. Kujala, and K. Aaltonen, "A game-based learning method to teach project management–the case of the earned value management," Cogent Education, vol. 10, no. 2, p. 2264035, 2023.
S. Hendiani, M. Bagherpour, A. Mahmoudi, and H. Liao, "Z-number based earned value management (ZEVM): A novel pragmatic contribution towards a possibilistic cost-duration assessment," Computers & Industrial Engineering, vol. 143, p. 106430, 2020.
B. Koke and R. C. Moehler, "Earned Green Value management for project management: A systematic review," Journal of Cleaner Production, vol. 230, pp. 180-197, 2019.
A. Sudibyo, B. Simanihuruk, and N. Nurdin, "Analysis of Time and Cost Control of Sediment Trap Checkdam Construction in Bandung and Sumedang Regency," Asian Journal of Engineering, Social and Health, vol. 2, no. 5, pp. 313-328, 2023.
T. Narbaev, Ö. Hazir, B. Khamitova, and S. Talgat, "A machine learning study to improve the reliability of project cost estimates," International Journal of Production Research, pp. 1-17, 2023.
M. D. Sruthi and A. Aravindan, "Performance measurement of schedule and cost analysis by using earned value management for a residential building," Materials Today: Proceedings, vol. 33, pp. 524-532, 2020.