Level: Intermediate
Venue: 2019 AACE International Conference & Expo, June 16-19, 2019, New Orleans, LA, USA
Abstract: The earned value management (EVM) method remains as the most recognized project performance measurement and control tool. An extensive number of techniques dealing with ways and means that improve the forecast of the at-completion project duration have been proposed in the last two decades. That said, the objective of the work presented in this paper is to investigate and propose a framework that can systematically guide the construction contract engineer in measuring and controlling project schedule performance. The proposed framework aims at making this control tool better accustomed and suited for exercising construction schedule control. In that respect, it accounts for the several emergent extensions, involving variant metrics that have been developed in complement to other proposed EVM-compatible methods, in order to offer better means for studying the project schedule performance and measuring the total expected delays. A notional project has been used to demonstrate the practicability of the majority of the steps incorporated under the proposed framework. The main research contribution lies in allowing a systematic and transparent evaluation that can better justify a fair initiation by project owners of the recovery of liquidated damages in case of expected schedule delays.
Venue: 2019 AACE International Conference & Expo, June 16-19, 2019, New Orleans, LA, USA
Abstract: The earned value management (EVM) method remains as the most recognized project performance measurement and control tool. An extensive number of techniques dealing with ways and means that improve the forecast of the at-completion project duration have been proposed in the last two decades. That said, the objective of the work presented in this paper is to investigate and propose a framework that can systematically guide the construction contract engineer in measuring and controlling project schedule performance. The proposed framework aims at making this control tool better accustomed and suited for exercising construction schedule control. In that respect, it accounts for the several emergent extensions, involving variant metrics that have been developed in complement to other proposed EVM-compatible methods, in order to offer better means for studying the project schedule performance and measuring the total expected delays. A notional project has been used to demonstrate the practicability of the majority of the steps incorporated under the proposed framework. The main research contribution lies in allowing a systematic and transparent evaluation that can better justify a fair initiation by project owners of the recovery of liquidated damages in case of expected schedule delays.