An Investigation into Performance Appraisement of Commercial Buildings Construction Projects in Pakistan by Integrating Earned Value Management (EVM) and Risk Management

Abstract

The success of a project is partly dependent on accurately forecasting the performance of future states of current projects. Earned Value Management and Risk Management are two different approaches used for forecasting the project performance. By separately using these two approaches in commercial buildings construction projects in Pakistan do not add enough project value in forecasting current project performance. The timely and precise feedback is of crucial importance for the success of these projects that help keeping the initially planned costs and time of the project on schedule. The paper is supported by questionnaire survey that was responded by 120 project leaders in the field of commercial buildings construction projects in Pakistan who have good experience of using the techniques of EVM and RM. The results of this research significantly support the belief that integration of EVM and RM adds value to a project. The research provides project managers with several recommendations potentially benefiting their projects success and improving project performance by providing evidence for use of an integrated EVM and RM.