Cost and Schedule Monitoring of Industrial Building Projects : Case Study

Performance measurement is a helpful tool for taking corrective actions and controlling a project as far as this enables accurate time and cost forecasts during the first stages of the construction effort when the management team still has opportunities to make adjustments. This paper overcomes the dilemma of practicability and predictability of traditional estimates at completion based on early progress measurement by presenting the empirical results from the construction project of an industrial facility. The case may be a reference practice for assessing time and cost performance measurement of any building, whose layout can be reasonably partitioned into repeatable portions. In such circumstances, an effectively-managed traditional earned value method and appropriate metrics for computing performance provide project managers with accurate forecasts as useful tools for successful project management and control.