Comparative analysis of earned value management techniques in construction projects

Area of Science:

• Construction Project Management
• Earned Value Management (EVM)
• Predictive Analytics in Construction

Background:

• Earned value techniques are crucial for construction project monitoring and forecasting.
• Limited research exists on the comparative accuracy of these techniques across project types and stages.

Purpose of the Study:

• To evaluate the predictive accuracy of Earned Duration, Earned Schedule, and Planned Value techniques.
• To identify the most effective forecasting method based on project progress.
• To provide practical guidelines for selecting appropriate techniques at different project phases.

Main Methods:

• Analysis of a diverse dataset comprising 30 construction projects.
• Comparative evaluation of Earned Duration, Earned Schedule, and Planned Value forecasting accuracy.
• Assessment of predictive performance at various project duration percentages.

Main Results:

• Earned Schedule demonstrates superior accuracy in predicting project completion during early stages.
• Earned Duration proves more reliable for accurate forecasting in the later stages of construction projects.
• Project type and progress level significantly influence the effectiveness of forecasting methods.

Conclusions:

• The choice of earned value technique should be tailored to the project's stage and type.
• Implementing stage-specific forecasting methods enhances project outcome predictability.
• This research offers practical guidance for optimizing construction project management and forecasting.