Project Management for Construction Projects

Project monitoring is the activity of overseeing all tasks and actively paying attention to the project process in order to guarantee that the project is implemented as planned.

Can help to identify potential risks and deviations in time and initiate countermeasures.

BSC is a strategic planning and management system

Based on defining what is desired (visions) and figuring out how these visions can be achieved (strategies).

European Foundation for Quality Management (EFQM)

• a holistic view of the organization
• the aim is to develop an excellent organization

Baldrige Criteria for Excellence

• used in the United States
• to improve their overall performance
• an integrated approach to delivering ever-improving products and services to the costumers

Key Performance Indicators

• A measurable value that demonstrates how effectively a company is performing
• To control and evaluate the performance of different projects or departments
• Depending on the perspective, different KPIs are used
  e.g. marketing --> number of new customers, construction team --> piles build

Three known types of KPIs:

• Output factors
  --> what is done
• Input factors
  --> what is needed
• Hardship factors
  --> beyond the control of the project manager (e.g. weather)

The EVA is a method used for project controlling.

• measure progress at any given point in time
• determines the schedule, cost, and performance deviations
  and their dependencies between them

Use in different phases:

• During planning phase
  determine the cash flow requirements
   
• During bidding phase
  used by the contractor to compare different cash flow projections using different progress scenarios
   
• During construction phase
  used as a control tool to monitor the actual progress in comparison with the initial plans

Budgeted cost of work scheduled
a.k.a. planned value (PV)

= total cost * % planned work

Actual cost of work performed
a.k.a. actual cost (AC)

= what is paid for an activity

Budgeted cost of work performed
a.k.a. earned value (EV)

= total cost * % work done