Earned Value Management

Overview:

This seminar goes over the topic of Earned Value Management (EVM) with a brief history on how it developed, its concepts, mathematical equations and practical examples. We assess construction project progress in terms of cost and schedule. We will demonstrate how this method calculates cost and schedule variances, and how it extrapolates these variances to forecast variances by the end of the project. This is important for the contractor not only to assess the current situation, but also to make any needed adjustments in order to avoid undesired outcomes. The seminar will also go over drawbacks of this method and how to overcome them.

Why you should Attend:

Earned Value Management in construction projects is a method most government agencies use to assess work progress, in terms of both the cost and schedule. It is important for contractors and the construction management team members to understand this method, its concept and application.

Areas Covered in the Session:

• Introduction to the Earned Value Management (EVM) method; its history, definitions, and concept.
• Going over the mathematical equations in EVM
• Practical examples, applying EVM
• Discussion on where the EVM applies best
• EVM drawbacks of this method and how to overcome them

Who Will Benefit:

• Construction Management Team
• General Contractors
• Subcontractors
• Project Management Consultants
• Architects and Engineers
• Owners (Especially Public Agencies)