Rethinking Earned Value & Schedule Management on Construction Projects
This is the essential, groundbreaking construction performance book that will help to change the paradigm of budget over-runs, late completion, costly litigation, and failed projects which has hurt owners, contractors, as well as the industry and public at large.
The construction industry’s current approaches to solving the performance problem are subjected to an annihilating critique which exposes the sources of project failure. The solution is provided in exhaustive, step-by-step instructions and strategy advice explaining how to succeed with a performance-based, project management approach developed by the author over the last four decades. Reliable analytical tools to evaluate construction performance are urgently required. Existing Earned Value analytics and practice are shown to be fundamentally inadequate. New Earned Value analytics, formulas and metrics are introduced which connect output to the productivity and resources required to accomplish the work. Worked examples show how to fully integrate the new Earned Value analytics with Critical Path Method schedule analysis. A new root-causation test for delay and disruption analysis is presented along with commentary about implications of the new analytics for risk analysis & other areas of performance evaluation and project management.
Who Should Read this Book Public and Private buyers of Construction – who need improved time and budget results on their projects Contractors and Sub-Contractors – who want to improve profitability, succeed in delay claims, and seek strategies for commercial dispute resolution that actually works Architects, Engineers – tasked with evaluating performance Lawyers and Forensic Delay Experts – who are advancing delay and productivity claims Project Managers – frustrated with project failure, looking for practices & analytics proven to work in construction Earned Value analysts & CPM schedulers – comprehensive analysis of flawed existing theory & case-study based exposition of the new, integrated analysis approach that will become the industry standard Academics – the authoritative project management, Earned Value and CPM textbook for construction
Among the topics discussed are the following:
- Exhaustive critique of existing Earned Value analysis that compels changes to current theory and practice - New Earned Value analytics for construction, integrated with resource-loaded CPM schedules represent a paradigm change - Worked examples of resource-loaded CPM schedules using the new EV Performance analytics - Identification of reliable performance thresholds for progress, productivity and resources - Understanding the interconnection of progress and productivity and performance patterns over time - How to create meaningful, resource-loaded, CPM schedules - Analyzing schedule float in concert with the new analytics - Why current cause and effect delay analysis is fundamentally flawed because it ignores root causes - Why delay claim analysis must always account for productivity - The problem common to all contract delivery methods and how to correct it - Why construction projects fail - Specific steps in creating a successful construction program - Game theoretical & other approaches to implementing a performance-based system - Using commercial dispute resolution to contemporaneously resolve claims and improve performance going forward - The importance of probabilistic (Monte Carlo) schedule analysis & problems with current practice