1.How often (What Frequency) should a Project Manager calculate Earned Value Analysis for a Building Construction project?

Earned Value (EV) is one of the most sophisticated and accurate methods for measuring and controlling project schedules and budgets. Earned value has been used extensively in large projects, especially in government projects. PMI is a strong supporter of the Earned Value approach because of its ability to accurately monitor the schedule and cost variances for complex projects.

Although it is sophisticated, Earned Value can be scaled to be appropriate for any size of project. The key is in the project planning.

There are three primary advantages to using Earned Value:

1. Accuracy in reporting
2. Ability to deal with the uneven rate of project expenditures and work
3. The early warning it provides project managers, allowing them to take the necessary corrective action should the project be spending more money than it is physically accomplishing

Other less professional methods for measuring budget and schedules generally only monitor the percent of the time through the schedule and make the often mistaken assumption that this is also the percent that the project should be through the budget. But cost and project progress generally are not evenly expended through a project. The reason Earned Value stands above the alternatives is that it accurately deals with this reality. Earned Value warning signals become available to management as early as15 to20 percent into a new project, in ample time to take corrective measures.

In order to employ Earned Value, we must have a baseline plan (including a detailed, workload levelled, progress schedule) in place that will allow us to continuously measure seven points of data. The textbooks, including the referenced ones at the end of this paper, say that this is easy. However in my reality it often is not easy because scheduling to this level of detail at the beginning of the project is challenging and dynamic.

Earned Value requires the kind of data most projects have, but we may not look at the data in quite the same way. Earned Value has a focus on its percent-complete position…against its (100 percent) defined scope.

In order to employ Earned Value we must first know at all times what the "planned value" is as at any point in time. So Earned Value is built on a very structured project plan. It requires a detailed WBS, time and cost estimates for all of the work packages, a workload levelled master schedule, and a meticulous change management methodology (with this last part being the hardest for my projects).

To determine the planned value, we need to calculate two important base factors,1) how much physical or intellectual work we have scheduled to be completed as of the point of measurement, and2) what was the budgeted value of the work scheduled.

To measure Earned Value we need two new points of data:3) how much of our scheduled work have we actually accomplished? And4) what is the budgeted value of the work actually performed?

The next item is for the Earned Value work we have accomplished, what5) costs have we actually spent and/or incurred.

The Planned Value = Items1 and2The Earned Value = Items3 and4Actual Costs =5

Next we need to understand6) the "schedule variance" which in Earned Value is the difference between our planned value scheduled and our Earned Value achieved. Lastly, we need to know7) what our "cost variances" have been. This is determined by relating our Earned Value accomplished against the actual costs pent or incurred.

These are the basics. There are many calculation tables, charts, at graphs that can help visual display this data, variances, and trends. These are frosting on the cake and not necessary to use Earned Value. Earned Value summary reports often will provide a revised estimate to complete based on the extension of the current trends

It all depends on many factors like:

Nature of the project

Duration of the project

Place(Country Law) of the project

Accounting method and reporting pattern Etc etc

Earned Value is a very important parameter to indicate the project status whether leading or lagging or according to schedule moreover it states clearly the project financial status whether project is under budget, over budget or on budget. Accordingly it is a very important analysis for the project whenever a status report is required but the general trend is to prepare it monthly ..

I have no experience of construction works, however, I would suggest that a construction manager should submit Earned Value Analysis Report on monthly basis as well as on quarterly basis because this analysis report enables decision makers in controlling project budgets and schedules to monitor and streamline the project accordingly.

Planning often is made over phases, essentialy 2 macro phases the first where infrastructure is built, and the second one where one should finish paying the project.

In both phases one can have different stages. 

One can make the EVA in every stage having an operational information about the physical and financial perfomance. 

Aditionaly, after finishing the first phase it's also possible and desirable to make an EVA, to understand the current situation before finishing the project's payment on the second stage.

After finishing build a construction project it's important to take care of the finacial aftermath, since there are probably loans to be payed, and in some circumstances debt can be mutualized in the benefit of the promoter.

Regarding construction projects monthly report needed and yearly  

I would suggest every milestone to report to PMO but every activity (not the task) for ownself.

he have to calculate it and review with all the progress reports.

Thanks for invitation, and I am really sorry for my late, because I were  had a lot of work.

I don't know about construction projects .

But in general i prefer it monthly and do it with any change or delay in the plan .