26
January
by Jeffrey C Kadlowec, Registered Architect Variance in cost and schedule throughout the lifecycle of a construction project become apparent through utilization of earned value analysis (EVA). These calculations provide an early-warning system for small and large businesses providing them with a means to identify problems regarding financing and scheduling estimates (Echeme 2023). EVA compares the actual amount of work against the anticipated work that is planned. The method allows for project managers to monitor and evaluate the performance of construction and take corrective actions to ensure timely completion within the approved budget. Earned value management (EVM) is a method.
