Management of the cost overrun of Baghdad University projects using earned value management (EVM)‎ and value engineering (VE)‎

Joint Authors

al-Jawhar, Husam D.
Araji, Sura Z.

Source

ZANCO Journal of Pure and Applied Sciences

Publisher

Salahaddin University-Erbil Department of Scientific Publications

Publication Date

2016-06-30

Country of Publication

Iraq

No. of Pages

11

Main Subjects

Engineering & Technology Sciences (Multidisciplinary)

English Abstract

Actual costs of projects in Iraq might be higher than those depicted by budgets.

In many cases, numerous projects endure distress and possible profit loss because of disorganized cost and schedule tracking practices as well as inaccurate data collection and estimates.

When costs generally exceed the allocated funding, construction companies must consider the predictability of project costs in developing their Capital Improvement Program.

This research aims to discuss the feasibility the earned value management (EVM) in managing the project’s cost overrun.

EVM allows the monitoring of the construction progress, performs forecasting on the project, uncovers problems occurring on-site, and responds to other project issues as soon as possible.

This research also presents a case study to supplement the application of the EVM system.

In the case study, value engineering technique is used to determine the best alternative which should not affect the building thermal efficiency.

Computerized thermal performance modeling using Ecotect Analysis program is employed to visualize the building model, run the analyses, and perform comparisons.

Two models are presented; model A represent the project in its original plans and model B represent the project after implicating the suggested alterations in terms of cost control together with keeping the thermal efficiency in its acceptable levels.

Results show that case B is better and more cost effective than case A, and the duration of project cost adheres to the budget of the project according to EVM.

Most importantly, this study is conducted not to advocate better means of improving project costs, but to obtain better estimates of such expenditures.

Data Type

Conference Papers

Record ID

BIM-786843

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