Analysis Of Earned Value In Engineering Project Management On Critical Path

Among the various methods of project management,Earned Value Management is a holistic approach that measures project progress, costs and qualities. In order to demonstrate project progress, it adopts expression form of the value of money instead of engineering quantities which avoid the deviation effects brought about cost control and schedule control alone. Earned value Management expresses the project implementation status through three basic paRAMeters: the budget cost BCWS of planning work, the budget cost BCWP of finished work and the actual cost of ACWP of finished work. It also calculates and comparative analyses of the actual value and planned value through the paRAMeters which conduct cost deviation, schedule deviation,cost execution indicators,schedule performance indicators and other datum,in order to find the status of project implementation, which is a highly effective integrated control method.However, Earned Value Management itself cannot distinguish between project constraints and non-constrained schedules, that is to say, it cannot distinguish the progress of critical paths and other paths(non-critical paths),since Earned values on noncritical paths may cover Earned values on critical paths, resulting in erroneous performance outcomes. This would require addressing the affiliations between the local earned value and overall earned value of the critical path.In terms of studying the project scheduling,it is the most effective way to make use of the critical path to grasp the key job under the large and complicated information.Only doing that can bring the actual help to decision-makers. Based on this,this paper will discuss how to separate the earned value of the critical path from the earned value of all the work,establish the Earned Value System on the basis of the critical path,distinguish the earned value differences between critical path and non-critical path,sort out the specific reasons of project progress of delay or advance,thus,develop appropriate corrective measures.In the process of research, this paper concretely analyzes the integrated management method of the schedule cost during project management- Earned Value,and explains its basic principles and proposes Earned Value Management Analysis based on critical path through the deficiencies of the traditional earned value method in schedule deviation analysis. This Earned Value Management System is made up of the decomposition of work structure and organization structure, the establishment of responsibility distribution matrix,thus,estimate the allocation of resources and cost schedule, get the project's earned value measurement baseline,determine the critical path of job procedure and calculate the project earned value index. It also discusses the relationship between the progress performance and overall project schedule performance, and the differences are analyzed so as to obtain the actual deviation of project progress and get the origins of deviation which provide a basis for the adjustment of the schedule.In the end,this paper analyzes the case of the engineering training building project in a university in Xianning. The results show that the Earned Value Management based on the critical path is more accurate in identifying the causes of the actual deviation and plays a corresponding role in correcting the project management.