An Improved Earned Value Analysis Tool for Mitigating Progress Risks in Long Duration Projects

As a risk control tool, earned value analysis is crucial for identifying risky trends in the budget or schedule of a project. This tool relies on earned value management, a method for calculating cost and schedule variances. However, this method does not take into account the time value of money. Th...

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Published inMATEC Web of Conferences Vol. 281; p. 5001
Main Authors Fayad, Ali, Hussein, Bassam, Maalouf, Elie, Haj-Ali, Amin
Format Journal Article Conference Proceeding
LanguageEnglish
Published Les Ulis EDP Sciences 2019
Subjects
Cost estimates
Decisions
Mathematical analysis
Risk management
Schedules
Value analysis
Value management
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Abstract As a risk control tool, earned value analysis is crucial for identifying risky trends in the budget or schedule of a project. This tool relies on earned value management, a method for calculating cost and schedule variances. However, this method does not take into account the time value of money. This in itself is a threat that could lead to misleading data and eventually wrong decisions. This paper explores the risk management process, the earned value management method, and proposes a methodology that compliments the earned value management method with net present value calculations. This will allow project managers to take sound decisions based on more accurate information.
AbstractList As a risk control tool, earned value analysis is crucial for identifying risky trends in the budget or schedule of a project. This tool relies on earned value management, a method for calculating cost and schedule variances. However, this method does not take into account the time value of money. This in itself is a threat that could lead to misleading data and eventually wrong decisions. This paper explores the risk management process, the earned value management method, and proposes a methodology that compliments the earned value management method with net present value calculations. This will allow project managers to take sound decisions based on more accurate information.
Author Hussein, Bassam
Fayad, Ali
Maalouf, Elie
Haj-Ali, Amin
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Snippet As a risk control tool, earned value analysis is crucial for identifying risky trends in the budget or schedule of a project. This tool relies on earned value...
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Decisions
Mathematical analysis
Risk management
Schedules
Value analysis
Value management
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