| Title |
Selecting and Verifying Appropriate Performance Indices to Forecast Estimate at Completion(EAC) |
| Authors |
Son Bo-Sik ; Lee Dong-Jun ; Lee Hyun-Soo |
| Keywords |
Earned Value Management System(EVMS) ; Performance Index ; Composite Index ; Estimate at Completion(EAC) |
| Abstract |
Using EVMS can probably cause lots of confusion under the different systems and different circumstances of the construction industry between Korea and The United States, because The United States has wide experience in applying to EVMS during several decades but Korea has not. Therefore this research deals with the problem about Performance Indices in forecasting EAC (Estimate at Completion) among the problems of using EVMS. We verified the newly proposed method on an apartment construction project having relatively sufficient performance data in order to select the most satisfactory performance index to be used in domestic construction projects. Based on the result of statistical method obtained through the adequacy analysis and confidence analysis, the 0.8CPIC+0.2SPIC, which is used in the United States, was found to be suitable for Korea. The methodology may be applied in other types of construction as well. |