An Analysis on Resource Planning, Cost Estimation and Tracking of Project by Earned Value Management

Construction industry is the second largest sector in India. Many construction projects suffer from time and cost overruns due to a multiplicity of factors. Earned value management (EVM) is a project performance evaluation which has been adapted for application in project management. This technique helps in comparison of budgeted cost of work to actual cost. The present study deals with the scheduling and project monitoring process along with it also discusses main parameter's involving in the calculation of earned value analysis in cost and time management of civil construction project. Methodologies and analysis are demonstrated in this paper using an example of real time project. Primavera P6 software is used for project planning and EVM calculations.