Applied Research Of Earned Value Management In Chang Yuan (Blue-collar Apartment) Project Management In Binhai Tourism Area

In order to further improve the project management level, it is the ultimate goalfor all kinds of project management to reduce the investment cost and shorten theconstruction period within a reasonable scope. The Earned Value Managementprovides effective management system in the process of project implementation tofully combine progress and cost together to achieve a scientific and highly efficientproject management goal. The project companies take a series of managementmethods during the whole process including drafting the construction plan andprogress plan, determining the budget, outsourcing and construction implementationso the project cost combines with the progress plan in order to control the wholeproject s cost and progress.This article discusses the basic theory of Earned Value Management with theactual project case Chang Yuan (Blue-collar Apartment) in Binhai Tourism Area tomake some statistic analysis including project progress plan, WBS breakdownstructure, construction budget and construction cost. This article also makes regulartest on Planned Value (also known as BCWS, Budgeted Cost for Work Scheduled),Earned Value (also known as BCWP, Budgeted Cost for Work Performed) and ActualCost (also known as ACWP, Actual Cost for Work Performed) to form a timely CostVariance and Schedule Variance data, further reflect accurate Schedule PerformanceIndex and Cost Performance Index to make the project completed as scheduled withinthe cost control range.