Abstract
In today's highly competitive business landscape, enhancing productivity and optimizing resource allocation are critical for a firm's success. This paper presents a comprehensive framework that uses Earned Value Management (EVM) and Value Engineering (VE) to achieve these goals. The proposed framework consists of five key phases: Initiation and Planning, Value Engineering Analysis, Implementation of EVM, Monitoring and Control, and Continuous Improvement. By creating constructive collaboration between EVM's data-driven insights and VE's innovative approaches, the framework aims to maximize project efficiency, reduce costs, and enhance overall productivity. This comprehensive approach not only ensures that projects are completed on time and within budget but also fosters a culture of continuous improvement, positioning firms for sustained success in a dynamic market environment. The proposed framework enabled us to achieve enhancements in productivity costs ranging from 66% to 90%; moreover, we achieved total working man-hour savings ranging from 33% to 88.7% across different disciplines.