Konior, J and Szóstak, M (2023) Course of planned, actual and earned cost curves of diverse construction investments. International Journal of Construction Management, 23(5), pp. 865-876. ISSN 1562-3599
Abstract
The purpose of the paper is to analyse and evaluate the course of various construction projects and to compare the planned, actual and earned costs. The data for the development of the original research methodology come from the authors' own experience and professional work involving the providing of Bank Investment Supervision services documented in 536 BIS reports. On their basis, charts of planned/estimated, invoiced/actual and performed/earned values of the cumulative costs of the examined construction projects were prepared. The selected BCWS, ACWP, and BCWP graphs of the Earned Value Method curves in 8 homogeneous typological groups were presented. Such information is fundamental in terms of controlling and predicting of cost and schedule performances within homogeneous construction sectors. While planning diverse investments budget and timeframe the executives may foresee in measurable way the most probable spend of actual and earned values of managed projects. They can estimate the range of cost and schedule overrun at the construction project completion and set up mitigation actions to minimize the risks of such overrunning.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction project; cost; earned value method; S-curve |
| Index terms: | estimate, supervision, s-curve, research methodology, executive, schedule overrun, professional work, construction sector, construction project, mitigation, schedule performance |
| Subjects: | project controls, industry analysis, economics, production management, financial risk, professional development, financial and cost management, research design and methodology, control systems, practitioner |
| Topics: | Time Control, Roles and Professions, Cost Management, Information Management, Project Management, Research Practice |
| Descriptive scope: | 3 PCT |
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