Cost and schedule performance are widely accepted in the literature and in industry as effective measures of the success of the project management effort expended. Earned Value Analysis (EVA) offers many metrics to objectively measure cost and schedule performance of many different types of projects. The author utilized EVA to objectively measure the cost and schedule performance of completed United States Air Force (AF) Military Construction (MILCON projects from 1990 to 2005. The impact of Major Command (MAJCOM), Construction Agent (CA), and facility type (CATCODE) and the combination of these variables on the EVA metrics of Cost Performance Index (CPI), Time Performance Index (TPI), and CPI*TPI were evaluated. The CPI results indicate that AF MILCON projects are typically executed either on or below their respective budgets. Conversely, the TPI results indicate that AF MILCON projects typically take more time than expected for construction. The CPI*TPI results indicate that the AF MILCON projects in this study typically exchange higher cost performance for lower time performance. However, when CPI and TPI are given equal weight, the sacrifice made in time performance is greater than the benefit gained in cost performance
