An analytic review of earned value management studies in the construction industry

Earned value management (EVM) is a methodology for evaluating project performance and progress by integrating project scope, schedule, and cost. EVM has been widely applied in various industrial sectors and many studies have been conducted on EVM and its application in the industry. This paper provides an analytic review of EVM studies and its applications. EVM studies published in a number of sources are reviewed. These studies are classified as either empirical or non-empirical. For empirical studies, key issues reviewed include effective implementation of EVM, behaviors of cost performance index, accuracy of cost control techniques, and accuracy of time control techniques. For non-empirical studies, key issues reviewed include schedule performance index, accuracy of time control techniques, and the integration of EVM with other project management techniques. © 2012 ASCE