Earned Schedule min-max: Two new EVM metrics for monitoring and controlling projects
[EN] Earned Value Management (EVM) is a well-known project management technique for monitoring project pro-gress. Over the last 15 years, many promising EVM metrics have been proposed to get, among other improve-ments, better actual project duration and cost estimates. Papers comparing the performan...
| Authors: | , , , , , |
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| Format: | article |
| Publication Date: | 2019 |
| Country: | España |
| Institution: | Universitat Politècnica de València (UPV) |
| Repository: | RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia |
| Language: | English |
| OAI Identifier: | oai:riunet.upv.es:10251/140859 |
| Online Access: | https://riunet.upv.es/handle/10251/140859 |
| Access Level: | Open access |
| Keyword: | Earned value Earned schedule Earned duration Project duration Deterministic techniques PROYECTOS DE INGENIERIA INGENIERIA DEL TERRENO |
| Summary: | [EN] Earned Value Management (EVM) is a well-known project management technique for monitoring project pro-gress. Over the last 15 years, many promising EVM metrics have been proposed to get, among other improve-ments, better actual project duration and cost estimates. Papers comparing the performance of all these metricsare, however, scarce and sometimes contradictory.In this paper, a simulation and empirical comparison of 26 deterministic project duration forecasting tech-niques under the EVM framework is developed. Among them, two new metrics: Earned Schedule min (ESmin) andEarned Schedule max (ESmax) are proposed.ESminandESmaxoffer a new and simpler activity-level calculationapproach of the traditional Earned Schedule metric. Top performing (most accurate) metrics: Earned Schedule(ES), Earned Duration (ED) and Effective Earned Schedule (ES(e)) with Performance Factor 1 (PF= 1), areslightly outperformed by the new metrics which also offer some interesting applications for enhanced projectcontrol. |
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