Application of earned value method and earned schedule method for a residential apartment

Abstract Earned Schedule Management (ESM) gives an estimate of schedule and milestone achievement dates. Earned Value Management (EVM) assists to follow the project performance by giving the schedule variance, cost variance and their performance index. EVM &ESM helps the project manager to foresee cost and schedule for the real project. The objective of this study is to apply EVM & ESM to the real time residential apartment project which is upcoming in Bengaluru, Karnataka, India and then to compare the results of two deterministic forecasting methods EVM and ESM. The EVM and ESM parameters are generated by using the data procured from the planning department. It shows much fluctuation in the project performance but the last months (M10) results reveal that the project is behind schedule, unfavorable budget and needs more amelioration. The project has an unfavorable Cost Variance of -0.91(budget in crores of INR, 1 crore = 10millions)) and schedule variance of -6.71months. It is also observed from the results and actual project situations that Earned Value and Earned Schedule methods in conjunction gives more accurate interpretation than using each of them detachedly.