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An Extension on EVM for Estimating Final Cost of Construction Projects in IRAN

Ganjou haghighi, Negar | 2011

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 42568 (44)
  4. University: Sharif University of Technology
  5. Department: Management and Economics
  6. Advisor(s): Bahramgiri, Mohsen
  7. Abstract:
  8. High rate of failures in construction projects in IRAN and other developing countries shows that current methods for evaluating projects are not reliable and unfailing. The most important criteria for assessing the success of projects is their cost and time performance. Estimate at Completion (EAC) is an important matter, which takes into consideration project performance and future risks in estimating final cost of project. EAC helps project managers to be aware of the final cost of the projects sooner and adopt response strategies. This study constructed an extension on EVM and risk management to develop an evolutionary EAC model to estimate final cost of project. In this model by evaluating the causes of failures by the project team and predicting the probable future causes of failure, final cost of project is estimated. Implementation of this model on a project validates that this model is more accurate than estimates achievable using currently formulas in estimating final cost of projects. Moreover, this thesis presents the findings of a questionnaire survey conducted on the factors that influence cost performance on construction projects in IRAN. Most important factors obtained by the analyses are financial problems of owner and contractor of the projects. At the end computer program is designed in EXCEL to make the model more practical for project team
  9. Keywords:
  10. Earned Value Mangement (EVM) ; Risk Management ; Construction Industry Projects ; Estimate at Completion (EAC) ; Factor Influencing Cost Performance

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