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(EVM-3161) EVM Application: Quantifying Values in Various Industries and Project Phases

Level: Basic
Venue: 2019 AACE International Conference & Expo, June 16-19, 2019, New Orleans, LA, USA

Abstract: Quantifying value in projects is a complex issue; more so in various industry types, different project locations, project phases and types of contracts. There is an opportunity at the outset of the project to choose the best possible way of quantifying value, so that it is easy, manageable and fit for purpose i.e., predict the future project outcome based on current performance. This paper provides valuable input for project management and controls staff to make the decision of choosing the right progress measurement technique based on available resources, the stage of the project, and based on available data. Feedback was obtained in the form of a survey from industry practitioners on best practices for quantifying progress values/percentages in various industries during various project phases. It provides the most widely accepted techniques for quantifying value using hours, costs (or both) including indirect costs.