EARNED VALUE MANAGEMENT SYSTEM FOR EVALUATING PROJECT PERFORMANCE
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Date
2020
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International Journal of Psychosocial Rehabilitation, Vol.24, Issue 02
Abstract
The project management is becoming a well-known and popular science to engineers to make project
planning and controlling effectively in compliance with clients’ contractual requirements. Successful projects was
indicated by achievement of meeting project requirement and specification and be completed on schedule and within
budget. To gain a successful project, an effective project control approached must be designed, developed, and
implemented to provide insight into how to finish project with timely and within budget. It is believed that Earned
Value Management System (EVMS) able to control project effectively, on account of it integrate Scope, Schedule,
and Cost of the Project. EVMS can obtain early warning and predict the outcome of projects. If our projects didn’t
meet certain requirements and specifications, we will know earlier before we continue our project. The main key
metrics of EVMS are Planned Value (PV), Earned Value (EV), and Actual Cost (AC), and Budgeted at Completion
(BAC). Finally, this paper described the concept and application of EVMS to control project performance in order
to project be completed on schedule and within budget.
Description
Keywords
Scope, Time, Cost, Earned Value