Earned value management used to monitor the project costs of ballast system fabrication and installation on a cargo ship

Abstract

The development of projects in the naval field is of crucial importance for the industry. Their success depends on how their costs and duration are managed. The study aims to present how naval projects can be monitored using Earned Value Management (EVM), a technique used to evaluate their performance from the point of view of costs. The Earned Value analysis has been applied to the manufacture and installation of a ballast system on a cargo ship. The results obtained have demonstrated that savings are achieved, and the works are delayed compared to the plan.