Master Earned Value Management in 19 Minutes!

[@ConstructIQ]

Free project management course: courses.construct-iq.com/courses/ProjectManagementBasics

[@timothyfairley7503]

The hardest thing to get right with EVM is tracking quantities and activities that accurately reflect work completion

[@Abreu1981]

one more comment regarding your last minute video: if there is a huge cost at the beginning of the project, I understand the Key Metrics will not be true for the overall performance of the project... this is almost always happening in projects with huge blow out costs.. how them we manage the project in terms of Earned Value key metrics? what considerations to make? would you be able to do a video about it and also related to the critical path comments you made in the last minute of this video?

[@ConstructIQ]

Well not necessarily, using a really basic example, if you are buying something really expensive and then installing it, you have a procurement activity for which you have rules of credit, and then when it's delivered you have an install activity. So as long as you set up the rules of credit correctly for the procuremet activity, then your EVM chart will refelct this. FOr example; place order 10%, manufacture structure 20%, finishing touches 50%, delivery to site 60%, installation 80%, testing 100%

[@ConstructIQ]

EVM works better for production driven tasks rather than milestone driven tasks. BUT you can still use it for mielstone activities, you just need the correct rules of credit (which is hard)

[@Abreu1981]

so which model do you use for a project with subcontractors for the electrical, hydraulic, mechanical and structural parts of the construction project ( an accommodation camp) and all concrete and labour works self performed.

[@ConstructIQ]

@@Abreu1981 if it's all sub-contracted, then you need to set up rules of credit for each package. YOu can do this on dollar value or anticipated duration.

[@Abreu1981]

@@ConstructIQ ?

[@Abreu1981]

any course for cost control and respective management with P6?

[@ConstructIQ]

Not yet, I'm doing a P6 one shortly!