ADVANCED PROJECT CONTROLS
Over the past two decades, STEVENS has incorporated variations of our Advanced Project Controls system on numerous large high-profile capital projects with great success. These projects ranged from several hundred to over one million man hours in size.
The key driver of STEVENS’ Project Control is schedule, budget and resource management. Our methods help to measure project performance, anticipate problems and make adjustments to keep the project on track. Communication between STEVENS’ timesheet application, accounting system and scheduling software is key to its success. Each piece plays a vital part in tracking the progress of the project and allows timely and accurate information, adaptable to virtually any project requirement and the ability to customize. STEVENS’ Project Controls system is capable of meeting the most complex and demanding project reporting requirements.
Earned Value Management (EVM) is a vital by-product of STEVENS’ Advanced Project Controls system. When it comes to job costs, the one thing every contractor needs is perspective. If costs are running low, that’s probably a good thing — but it could be that you’re not making much progress through the job schedule and the project is in danger of falling extremely behind. If costs are running high, that’s generally a bad thing — unless the scope of the job is shifting and you stand an excellent chance of recouping much of those high costs in change orders.
With project data coming at you from all directions, obtaining the perspective needed to properly assess these situations isn’t easy. One way to process this information more efficiently and draw critical strategic conclusions is EVM .
EVM is a systematic process used to measure project performance at various times throughout the life of a project. EVM helps project managers to determine whether a project is over or under budget, or if the project is on schedule. Project managers can also use EVM to compare the actual work performed to the work that was originally planned for the project at a specific period and to forecast project performance.
Monitoring your project’s performance involves determining whether you’re on, ahead of, or behind schedule and on, under, or over budget. But just comparing your actual expenses with your budget can’t tell you whether you’re on, under, or over budget — which is where EVM comes in.