Analysis of Cost Controlling in Construction Industries by Earned Value Method Using Primavera

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T. Subramani et al Int.

Journal of Engineering Research and Applications


ISSN : 2248-9622, Vol. 4, Issue 6( Version 1), June 2014, pp.145-153

RESEARCH ARTICLE

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OPEN ACCESS

Analysis of Cost Controlling In Construction Industries by


Earned Value Method Using Primavera
T. Subramani1, D. S. Stephan Jabasingh2, J. Jayalakshmi3
1

Professor & Dean, Department of Civil Engineering, VMKV Engg. College, Vinayaka Missions University,
Salem, India.
2
PG Student of Construction Engineering and Management, Department of Civil Engineering, VMKV Engg.
College , Vinayaka Missions University, Salem, India.
3
PG Student of Structural Engineering, Department of Civil Engineering, VMKV Engg. College, Vinayaka
Missions University, Salem, India.
ABSTRACT
Most of the construction projects suffer from cost and time overruns due to a multiplicity of factors. Earned
value management (EVM) is a project performance evaluation technique that has origins in industrial
engineering, but which has been adapted for application in project management. The earned value analysis
gives early indications of project performance to highlight the need for eventual corrective action. This
study is to present and discuss the main parameters involved in the calculation of Earned Value Analysis
(EVA) in the cost management of civil construction projects. The purpose of this dissertation is in 3-fold.
Firstly, Earned Value Analysis software is developed in Visual studio 2008, SQL Server 2005, .Net (C#
language). Next Comparison of selected parameters between M.S Project 20 07 , Primavera P 6 and developed
software is done. Therefore, it can be concluded that the software could be used in a wide range of projects for
Earned Value Analysis calculation
KEYWORDS: Analysis, Cost Controlling, Construction Industries, Earned Value Method, Primavera

I. INTRODUCTION
1.1 What is earned value management (EVM)?
The basic concept of EVM is more than a unique
project management process or technique. It is an
umbrella term for 32 guidelines that define a set of
requirements that a contractors management system
must meet. The objectives of an EVMS are to:
Relate time phased budgets to specific contract
tasks and/or statements of work.
Provide the basis to capture work progress
assessments against the baseline plan.
Relate technical, schedule, and cost performance.
Provide
valid,
timely,
and
auditable
data/information for proactive management
action.
Supply managers with a practical level of
summarization for effective decision making.
Once the contractors EVM System is designed
and implemented on a project, there are significant
benefits to the contractor and to the customer.
Contractor benefits include increased visibility and
control to quickly and proactively respond to issues
which makes it easier to meet project schedule, cost,
and technical objectives. Customer benefits include
confidence in the contractors ability to manage the
project, identify problems early, and provide
objective, rather than subjective, contract cost and
schedule status.
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Earned value management does introduce a few


new terms. Contractors internal systems must
be able to provide:
Budgeted cost for work scheduled (BCWS),
sometimes called the planned value.
Budgeted cost for work performed (BCWP) or
earned value.
Actual cost of work performed (ACWP).
Budget at completion (BAC).
Estimate at completion (EAC) which is
comprised of the cumulative to date actual cost
of work performed plus the estimate to complete
the remaining work.
Cost variance (CV) which is calculated as
BCWP minus ACWP. A result greater than 0 is
favorable (an underrun), a result less than 0 is
unfavorable (an overrun).
Schedule variance (SV) which is calculated as
BCWP minus BCWS. A result greater than 0 is
favorable (ahead of schedule), a result less than 0
is unfavorable (behind schedule).
Variance at completion (VAC) which is
calculated as BAC minus EAC. A result greater
than 0 is favorable, a result less than 0 is
unfavorable.
The Analysis and Management Reports section
below illustrates using the variances to track trends
over time as a management tool.
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1.1.1 About the 32 Guidelines
The 32 guidelines in the ANSI-748 Standard for
EVMS are divided into five sections which are
discussed below.
1. Organization
2. Planning, Scheduling and Budgeting
3. Accounting Considerations
4. Analysis and Management Reports
5. Revisions and Data Maintenance
1.2 Organization
This first section includes 5 guidelines that focus
on organizing the work. One of the most
fundamental is that the contractor must establish a
work breakdown structure (WBS) extended down to
a level that describes the tasks that will be performed
as well as their relationship to product deliverables.
Also critical is the organization breakdown structure
(OBS) that identifies who is responsible for the work
effort defined in the WBS. It is at this level where
the WBS (what) and OBS (who) intersect that defines
a control account, a key management control point.
The person responsible for the work effort (scope,
schedule, and budget) is the control account manager
(CAM). This is the foundation for ensuring the
contractors planning, scheduling, budgeting, work
authorization, and cost accumulation processes are
fully integrated. Establishing the control accounts is
illustrated inFig 1.1.

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control account, or the entire project is defined as the


budget at complete (BAC).
Because most projects are initiated with some
level of uncertainty; i.e. risk, project managers
typically set aside a portion of the total project value
as a management reserve (MR). MR added to the
BAC equals the total project budgeted value, defined
as the contract budget base (CBB). This is illustrated
in Fig 1.2

Fig 1.2 Establishing the baseline an Iterative,


three step process
All of the budgets on any project should be
logged for successful baseline control. Occasionally
contracted tasks may be temporarily held in
abeyance, not yet authorized to a manager. When the
project manager has yet to assign tasks and budgets
to the CAMs, such as an authorized, not yet
negotiated additional work, the task and its budget
can be retained in undistributed budget (UB). These
budget assignments, the WBS, and the functional
organizational identity of the managers can be
captured in a matrix as illustrated in Fig.1.3..

Fig 1.1 Intersection of the WBS and OBS establishes


the control accounts
1.3 Planning, Scheduling, and Budgeting
The second section includes 10 guidelines that
cover the basic requirements for planning,
scheduling, and establishing the time phased budgets
for the tasks. The integrated master schedule is the
projects road map to meet contract objectives. This
schedule must be resource loaded to determine the
budget for the work as scheduled. The resource
loaded schedule is the basis for the monthly budget,
or BCWS, for each task and thus the project. This
time phased budget is the performance measurement
baseline (PMB). The total budget for each task,
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Fig 1.3 Budget summary matrix


A very important aspect of the planning and
budgeting process is to determine how BCWP will be
assessed. This determination begins with classifying
work tasks as one of three types: discrete,
apportioned effort, or level of effort (LOE). From
this initial classification, for each discrete work effort
work package, the CAM selects an earned value
technique such as milestones, 50/50, 0/100, or
percent complete.
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It must be stressed that work only begins when
there is formal work authorization to proceed. This
requirement is a disciplined approach to clearly
define work, schedule, and budget before work
commences and actual costs begin to accrue. How
can someone be expected to manage the work effort
when it is unclear what is to be done? The ad-hoc
approach to managing, Give me a charge number
and Ill tell you when Im done with whatever I think
I am supposed to do does not work. The principles
of EVM are quite clear in this regard.
1.3.1 Accounting Considerations
This section is a very straightforward, long
standing project management set of 6 guidelines for
capturing actual costs (ACWP) expended for project
work effort. Actual costs must be captured in a
manner consistent with the way work is planned and
budgeted. The section outlines the need to select the
appropriate time to schedule an important project
resource, material, and to accrue performance data
correctly. The section also stipulates a common
sense practice to accrue the costs for the material in
the same month as the BCWP was taken (earned) to
avoid a very misleading cost variance, also known as
booking lag.

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analysis indices is a common practice to help


managers consider their past performance and their
future performance to complete the work within the
approved EAC and estimated completion date (ECD).
This is illustrated in Fig 1.5.

Fig 1.5 Estimate based on combined cost and


schedule performance

1.3.2 Analysis and Management Reports


The fourth section of 6 guidelines is very
important, inasmuch as it requires human attention to
cost and schedule variances, documenting cause,
impact, and correction action, and determining a new
estimate at complete (EAC), if warranted. The
variance calculations are typically done at the control
account level which provides the ability to
summarize the data up through the WBS and/or the
OBS. This is illustrated in Fig 1.4.
Fig 1.6 Cost and schedule variance trends
The cost and schedule indices are featured in
commercial off the shelf project management toolsets
and should be carefully reviewed during each
reporting cycle. They serve as a valuable validity test
to the estimate at completion.(Fig.1.6)

Fig 1.4 Summarizing data by WBS or OBS


As needed, the CAM or others can drill down
from the control account level into the detail data to
identify the root cause of a variance, determine the
impact of the variance on future work effort, and
identify correction actions. The use of the EVM data
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1.3.3 Revisions and Data Maintenance


The final section is a set of 5 baseline control
guidelines that emphasizes disciplined and timely
incorporation of customer directed changes,
including stop work orders. The rules also apply to
internal replanning. Lack of baseline control can
doom a project. Establishing and maintaining a
schedule and budget baseline is essential to be able to
assess work accomplished for each reporting period.
The Revision and Data Maintenance section is a
must for proactive, meaningful earned value

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management when there is a constantly changing
baseline.
1.3.4 Contractor and Customer Benefits
An earned value management system is an aid to
both the contractor and customer. The benefits of
implementing an EVMS can be summarized as
follows. An EVMS:
Improves the planning process,
Fosters a clear definition of the work scope,
Establishes clear responsibility for work effort,
Integrates technical, schedule, and cost
performance,
Provides early warning of potential problems,
Identifies problem areas for immediate and
proactive management attention,
Enables more accurate reporting of cost and
schedule impacts of known problems,
Enhances the ability to assess and integrate
technical, schedule, cost, and risk factors,
Provides consistent and clear communication of
progress at all management levels, and
Improves project visibility and accountability.
Earned V a l u e analysis is a method of
performance measurement. Earned V a l u e i s a
program management technique that uses work in
progress to indicate what will happen to work in
the future. Earned Value is an enhancement
over traditional accounting progress measures.
Traditional m e t h o d s f o c u s
on p l a n n e d
a c c o m p l i s h m e n t (expenditure) and actual
costs. Earned Value goes one step further and
examines actual accomplishment . This gives
managers greater i n s i g h t i n t o potential ris k
areas. With clearer picture, managers can create
risk mitigation plans based on actual cost, schedule
and technical progress of the work. It is an early
warning program/project management tool that
enables managers to identify and control problems
before they become insurmountable.
It allows projects to be managed better on
time, on budget. Earned Value Management System
is not a specific system or tool set, but rather, a set of
guidelines that guide a companys management
control system. In the case of cost overrun, project
management team may execute a value
engineering program for cost reduction either
reducing scope and quality in some sections of
project or providing additional budget to cover
overrun cost.
Similarly, for time overrun case, the may
plan some program such as fast tracking or time
crashing for time reduction. Therefore, the role of
EVM as well as correct and on time forecasting is
very i m p o r t a n t t o a c h i e v e p r o j e c t g o a l s .
This r e s e a r c h includes implementation and
improvement on EV to achieve a forecasting EAC
based on statistical and econometrics techniques
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and traditional EV indexes as well. This paper


discusses effectiveness o f developed software of
Earned Value Analysis with MS Project and
Primavera P6.
Earned value management (EVM), or Earned
value project/performance management (EVPM) is
a project management technique for measuring
project performance and progress in an objective
manner. Earned value management is a project
management technique for measuring project
performance and progress. It has the ability to
combine measurements of:
Scope
Schedule, and
Costs
In a single integrated system, Earned Value
Management is able to provide accurate forecasts of
project performance problems, which is an important
contribution for project management.
Early EVM research showed that the areas of
planning and control are significantly impacted by its
use; and similarly, using the methodology improves
both scope definition as well as the analysis of
overall project performance. More recent research
studies have shown that the principles of EVM are
positive predictors of project success. Popularity of
EVM has grown significantly in recent years beyond
government contracting, in which sector its
importance continues to rise (e.g., recent
new DFARS rules[3]), in part because EVM can also
surface in and help substantiate contract dsputes.
1.4 Essential features of any EVM implementation
include
a project plan that identifies work to be
accomplished,
a valuation of planned work, called Planned
Value (PV) or Budgeted Cost of Work
Scheduled (BCWS), and
pre-defined earning rules (also called metrics)
to quantify the accomplishment of work, called
Earned Value (EV) or Budgeted Cost of Work
Performed (BCWP).
EVM implementations for large or complex
projects include many more features, such as
indicators and forecasts of cost performance (over
budget or under budget) and schedule performance
(behind schedule or ahead of schedule). However, the
most basic requirement of an EVM system is that it
quantifies progress using PV and EV.
As a short illustration of one of the applications
of the EVM consider the following example. Project
A has been approved for duration of 1 year and with
the budget of X. It was also planned, that after 6
months project will spend 50% of the approved
budget. If now 6 months after the start of the project
a Project Manager would report that he has spent
50% of the budget, one can initially think, that the
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ISSN : 2248-9622, Vol. 4, Issue 6( Version 1), June 2014, pp.145-153
project is perfectly on plan. However in reality the
provided information is not sufficient to come to such
conclusion, as from one side within this time project
can spend 50% of the budget, whilst finishing only
25% of the work (which would mean project is not
doing well), similarly a project can spend 50% of the
budget, whilst completing 75% of the work (which
would mean, that project is doing better, than
planned). EVM' is meant to address such and similar
issues.
EVM emerged as a financial analysis specialty
in United States Government programs in the 1960s,
but it has since become a significant branch of project
management and
cost
engineering.
Project
management research investigating the contribution
of EVM to project success suggests a moderately
strong positive relationship.[6] Implementations of
EVM can be scaled to fit projects of all sizes and
complexities.
The genesis of EVM occurred in industrial
manufacturing at the turn of the 20th century, based
largely on the principle of "earned time" popularized
by Frank and Lillian Gilbreth, but the concept took
root in the United States Department of Defense in
the
1960s.
The
original
concept
was
called PERT/COST, but it was considered overly
burdensome (not very adaptable) by contractors who
were mandated to use it, and many variations of it
began to proliferate among various procurement
programs. In 1967, the DoD established a criterionbased approach, using a set of 35 criteria, called the
Cost/Schedule Control Systems Criteria (C/SCSC).
In 1970s and early 1980s, a subculture of C/SCSC
analysis grew, but the technique was often ignored or
even actively resisted by project managers in both
government and industry. C/SCSC was often
considered a financial control tool that could be
delegated to analytical specialists.
In 1979, EVM was introduced to the architecture
and engineering industry in a "Public Works
Magazine" article by David Burstein, a project
manager with a national engineering firm. This
technique has been taught ever since as part of the
project management training program presented by
PSMJ Resources, an international training and
consulting firm that specializes in the engineering
and architecture industry.
In the late 1980s and early 1990s, EVM emerged
as a project management methodology to be
understood and used by managers and executives, not
just EVM specialists. In 1989, EVM leadership was
elevated to the Undersecretary of Defense for
Acquisition, thus making EVM an essential element
of program management and procurement. In
1991,Secretary of Defense Dick Cheney canceled the
Navy A-12 Avenger II Program because of
performance problems detected by EVM.

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This demonstrated conclusively that EVM


mattered to secretary-level leadership. In the 1990s,
many U.S. Government regulations were eliminated
or streamlined. However, EVM not only survived the
acquisition reform movement, but became strongly
associated with the acquisition reform movement
itself. Most notably, from 1995 to 1998, ownership of
EVM criteria (reduced to 32) was transferred to
industry by adoption of ANSI EIA 748-A standard.[7]
The use of EVM quickly expanded beyond the
U.S. Department of Defense. It was adopted by
the National
Aeronautics
and
Space
Administration, United States Department of
Energy and other technology-related agencies. Many
industrialized nations also began to utilize EVM in
their own procurement programs.
An overview of EVM was included in
the Project
Management
Institute's
first PMBOK Guide in 1987 and was expanded in
subsequent editions. In the most recent edition of the
PMBOK guide, EVM is listed among the general
tools and techniques for processes to control project
costs.[8]
The construction industry was an early
commercial adopter of EVM. Closer integration of
EVM with the practice of project management
accelerated in the 1990s. In 1999, the Performance
Management Association merged with the Project
Management Institute (PMI) to become PMIs first
college, the College of Performance Management.
The United States Office of Management and
Budget began to mandate the use of EVM across all
government agencies, and, for the first time, for
certain internally managed projects (not just for
contractors). EVM also received greater attention by
publicly traded companies in response to
the Sarbanes-Oxley Act of 2002. In Australia EVM
has been codified as standards AS 4817-2003 and AS
4817-2006.
1.5 Project tracking

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needed to measure technical performance objectively


and quantitatively, and that is what EVM
accomplishes.

II. EARNED VALUE ANALYSIS


CONCEPT
Earned Value is a program management
technique that uses work in progress to indicate
what will happen to work in the future. EVA uses
cost as the common measure of project cost and
schedule performance. It allows the measurement of
cost in currency, hours, worker-days, or any other
similar quantity that can be used as a common
measurement of the values
associated
with
project work. EVA uses the following project
parameters
toevaluate
project
performance:
o Planned Value
o Earned Value
o Actual Value

Figure 1.7 shows the cumulative budget


It is helpful to see an example of project tracking
that does not include earned value performance
management. Consider a project that has been
planned in detail, including a time-phased spend plan
for all elements of work. Figure1.7 shows the
cumulative budget (cost) for this project as a function
of time (the blue line, labeled PV). It also shows the
cumulative actual cost of the project (red line)
through week 8.
To those unfamiliar with EVM, it might appear
that this project was over budget through week 4 and
then under budget from week 6 through week 8.
However, what is missing from this chart is any
understanding of how much work has been
accomplished during the project. If the project was
actually completed at week 8, then the project would
actually be well under budget and well ahead of
schedule. If, on the other hand, the project is only
10% complete at week 8, the project is significantly
over budget and behind schedule. A method is
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As noted, there are many ways to calculate the


EV, PV and AC of work packages that are in
progress. Comparison of those figures can serve to
identify specific work packages in
which
performance and progress is inadequate or
advanced, which will hopefully lead to remedial
action by the project manager and team. Cost
and
schedule performance should be measured
and analyzed as feasible with
regularity
and
intensity consistent with project management
need including the magnitude of performance risk.
Analysis should be progressive and should follow
the principle of management by exception. Variance
thresholds should be established in the planning
phase and should be used to guide the examination
of performance.

Fig: 2.1.Standard Earned Value Analysis Graph.


Earned value project management is a
well-known management system that integrates
cost, schedule and technical performance. It allows
the calculation of cost and schedule variances and
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ISSN : 2248-9622, Vol. 4, Issue 6( Version 1), June 2014, pp.145-153

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performance indices and forecasts of project cost and


schedule duration. The earned value method provides
early indications of project performance to
highlight the need for eventual corrective action.

III. ABOUT THE SOFTWARE


Taking lead from
present study aims at
Analysis function of
Microsoft Project 07,
Software.

the literature review the


evaluating Earned Value
three software
namely
Primavera 6 and Develop

IV. CASE STUDY


The Case Study of Residential Project has
been taken, using the information of an actual
project its cost and scheduling. The Built-up Area
of residential building is 120 sq.m. Earned Value
analysis in Prima Vera is ahown in Fig4.1 to 4.11

Fig 4.3 Tracking schedule

Fig 4.4 Scheduling activity


Fig 4.1 Scheduling activity, relationship SS, FS,
FF, SF, Start Date, Finish Date

Fig 4.5 Resource allocation

Fig 4.2 Resource sheet, Resource allocation for


each activity

Fig 4.6 Tracking schedule

Fig 4.7 Earned Value Analysis


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parameters where consider for effectiveness of


Developed Software, for this purpose comparison
was done between M.S Project, Primavera [PV Planned Value, AC - Actual Value, EV - Earned
Value, CV - Cost Variance, CPI - Cost Performance
Index, PD - Planned Duration, AD - Actual Duration,
SV(t) - Schedule Variance respect to time.]
contractors involved in the wide range of
construction

VI. CONCLUSION
Fig 4.8 Graphical presentation of Earned Value
Analysis
C.
EARNED VALUE
DEVELOPED SOFTWARE

ANALYSIS

IN

Fig 4.9Scheduling Activity, Relationship SS, FS,


FF, SF, Start Date, Finish Date

Although EVA(Earned Value Analysis) may


be most easily associated with the monitoring
and evaluation of project cost that are undertaken
within an organization, it can also be readily
applied, with some adjustment, to the control of
project cost that are performed by contractors and
vendors. In those circumstances, however, it
must be recognized that the client and contractor
will have differing perspectives on actual and
budgeted costs.
This study also indicated that EVA has
significant value and presents unique features
that can benefit clients, consultants and
industries. The two Projects were analysed using
the developed software (in C#, .Net & SQL server)
and MS Project 2007 and Primavera P6 based on
Earned Value Analysis Method. CPI, PD, AD, CV,
PV, AC, EV variable were selected.
The result shows a strong relation between
each software. The final result gives more than
99.5% accuracy.
A new parameter SV (t)
(Schedule Variances respect to time) is identified
and incorporated in developed software which is
not in MS Project 2007 and Primavera 6. The
final result gives almost 100% accuracy.

REFERENCES
Fig 4.10 Earned Value Analysis and SV(t)

Fig 4.11 Graph generated by Developed software

V. RESULTS
Developed software.[parameters- SV(t), CV
,CPI, PV, EV, AC, PD, AD. In this study 8
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[1]. ANSI/EIA-748-1998.
[2]. A Guide to the project management
body of knowledge (PMBOK Guide)Fourth Edition.
[3]. Anbari, F. T (2003). Earned Value
Project
Management Method and
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34(4), 12-23
[4]. Carles I. Budd, Charlene S. Budd IInd
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[5]. EunHong Kim, William G. Wells Jr,
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Management Methodology International
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[6]. FRANK T. ANBARI, PH.D., P.E., PMP
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Method:
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Getting More At Less Cost The Value
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Construction Project Management Tata
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Vanhoucke
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Stephan
Vandevoorde
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Projects
Duration
under
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Topological Structures. The Measurable
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Javier Pajares, Adolfo Lopez-parades
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Vandevoorde,
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