Earned Value Analysis Application in Project Management

2014 ◽  
Vol 971-973 ◽  
pp. 2494-2497
Author(s):  
Wen Xiu Wang ◽  
En Jian He ◽  
Yan Fei Zhao
Keyword(s):  
Project Management ◽  
Value Management ◽  
Earned Value ◽  
Earned Value Management ◽  
Value Analysis ◽  
Earned Value Analysis ◽  
Monitoring Tools ◽  
Analysis Application ◽  
Project Monitoring ◽  
Status Information

The focus of earned value management is the deviation ( schedule variance and cost deviation ) to determine the project, by determining the deviation monitor project status . Discussion earned value analysis methods use a combination of project management . Earned Value Analysis method as an effective project monitoring tools, you can maximize avoid state ( time and cost ) project-specific business and technical implementation of the project 's content and confused together, intuitively given project status information.

scholarly journals Análise da aplicação da técnica de gerenciamento do valor agregado (EVM) em projetos de construção enxuta

2016 ◽  
Vol 16 (3) ◽  
pp. 947
Author(s):  
Luis Felipe Cândido ◽  
Juliana Quinderé Carneiro ◽  
Luiz Fernando Mählmann Heineck
Keyword(s):  
Value Management ◽  
Earned Value ◽  
Earned Value Management ◽  
Value Analysis ◽  
Earned Value Analysis

O Gerenciamento do Valor Agregado (Earned Value Management, EVM) ou a Análise do Valor Agregado (Earned Value Analysis, EVA) é uma técnica de medição e controle de projetos baseada na medição física, financeira e de tempo que proporciona indicadores de avanço real, variações de desempenho e previsões para conclusão do projeto. Entretanto, vários trabalhos científicos vêm descrevendo alguns problemas e limitações dessa técnica como a desconsideração dos fluxos de trabalho e a incompatibilidade de previsões em estágios iniciais de construção. Assim, por meio de um estudo de caso único, exploratório e descritivo, o presente trabalho tem por objetivo analisar o uso da técnica do EVM em um projeto de construção sob a ótica da Construção Enxuta. O estudo pode confirmar alguns problemas levantados em outros trabalhos, bem como expandi-los, proporcionando uma visão mais holística sobre a aplicabilidade dessa técnica na construção civil, especialmente em obras cuja construção enxuta é aplicada. Por fim, os autores concluem que a técnica do EVM é uma repetição da técnica de medição físico-financeira plotada no tempo e que suas limitações podem tornar o seu uso incompatível com projetos de construção.

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

2019 ◽  
Vol 281 ◽  
pp. 05001
Author(s):  
Ali Fayad ◽  
Bassam Hussein ◽  
Elie Maalouf ◽  
Amin Haj-Ali
Keyword(s):  
Net Present Value ◽  
Value Management ◽  
Accurate Information ◽  
Analysis Tool ◽  
Earned Value ◽  
Earned Value Management ◽  
Value Analysis ◽  
Earned Value Analysis ◽  
Risk Management Process ◽  
Management Method

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.

scholarly journals Research on Optimization of Earned Value Management Method in Engineering Budget Management

2015 ◽  
Vol 9 (1) ◽  
pp. 369-375
Author(s):  
Ji Gedi ◽  
Wu Yunna ◽  
Chang Qing
Keyword(s):  
Critical Path ◽  
Integrated Control ◽  
Practical Method ◽  
Value Management ◽  
Earned Value ◽  
Earned Value Management ◽  
Diagram Method ◽  
Value Analysis ◽  
Earned Value Analysis ◽  
Management Method

Earned Value Management Method (EVM), widely used in the world, is a project management method of costschedule integrated control. But the traditional EVM sometimes cannot provide an accurate result. In this paper, a practical method is given to analyze the project performance, in which the Network Diagram Method and the Critical Path Method have been introduced into EVM system that can better reflect the practical situation of a project. This improved method can be referred to assub-level earned value analysis method. This method can correct variance in the duration and cost forecast of the traditional EVM, and can also provide more information about the cause analysis.

Directed earned value management based on ordered fuzzy numbers

2021 ◽  
pp. 1-14
Author(s):  
Seyed Taha Hossein Mortaji ◽  
Siamak Noori ◽  
Morteza Bagherpour
Keyword(s):  
Fuzzy Numbers ◽  
Lower Cost ◽  
Project Managers ◽  
Value Management ◽  
Monitoring And Control ◽  
Earned Value ◽  
Earned Value Management ◽  
Project Monitoring ◽  
And Control

Earned value management is well-known as the most efficient method of project monitoring and control providing relatively reliable information about the project performance. However, this method requires accurate estimates of the progress of project activities, which are always associated with uncertainties that, if ignored or not addressed well, lead to incorrect results. To address this issue, the application of multi-valued logic, in particular fuzzy logic, in earned value management has recently attracted a lot of attention both in practice and research. This paper introduces directed earned value management (DEVM) in which ordered fuzzy numbers are used to express the so-called uncertainties as well as to capture more information about the trend of the project progress. To evaluate the performance of the proposed method, several numerical examples and a case study are presented. The results reveal that compared to the existing methods, DEVM has a lower computational complexity. Also, it doesn’t suffer from the overestimation effect and as a result, it has a higher ability to express project-specific dynamics. In sum, the proposed method allows project managers to make informed decisions that lead to taking preventive and corrective actions promptly and at a lower cost.

Design and Realization of Defense Equipment Scientific Research Project Management System Based on Earned Value Management

2014 ◽  
Vol 971-973 ◽  
pp. 2317-2320
Author(s):  
Xiang Jun Yu ◽  
Chao Xie ◽  
Tian Ming Huang
Keyword(s):  
Project Management ◽  
Management System ◽  
Scientific Research ◽  
Design System ◽  
Value Management ◽  
Earned Value ◽  
Research Project ◽  
Earned Value Management ◽  
Project Management System ◽  
Scientific Research Project

This paper briefly introduces the basic connotation of earned value management, determine, from the target variable management process design, system function design and system implementation four aspects that the management of defense scientific research project management system design and implementation process based on the earned value, and some reasonable countermeasures to promote the use of the system.

scholarly journals Practical Application of Earned Value in Software Project Management—Taking the Developed IT Project as an Example

2020 ◽  
Vol 4 (3) ◽  
pp. 67
Author(s):  
Shuangxi Zhang
Keyword(s):  
Project Management ◽  
The United States ◽  
Value Management ◽  
Software Project ◽  
Earned Value ◽  
Earned Value Management ◽  
Progress Management ◽  
Actual Performance ◽  
Real Cost ◽  
The 1960S

<p>Earned value management (EVM) emerged in the United States in the 1960s<sup>[1]</sup>. It is used as an important standard of project cost management and progress management. The focus of earned value is to accurately measure the specific plan and actual performance of a project, which can accurately predicts the final cost and schedule results of the project. Earned value is based on the integration of various means of project management, so that the real cost performance of the project can be reflected, which is not achieved by other project management technologies. Based on the actual B2B project of ABCD company, this paper studies the application of earned value in practice.</p>

scholarly journals PROJECT PERFORMANCE MONITORING METHODS USED IN MALAYSIA AND PERSPECTIVES OF INTRODUCING EVA AS A STANDARD APPROACH / MALAIZIJOJE NAUDOJAMI PROJEKTŲ EFEKTYVUMO STEBĖJIMO METODAI IR GALIMYBĖS EVA NAUDOTI KAIP STANDARTINĘ METODIKĄ

2011 ◽  
Vol 17 (3) ◽  
pp. 445-455 ◽  
Author(s):  
Hamzah Abdul-Rahman ◽  
Chen Wang ◽  
Norjuma’ah Binti Muhammad
Keyword(s):  
Project Management ◽  
Manufacturing Industry ◽  
Structured Interview ◽  
Project Performance ◽  
Management Tool ◽  
Stochastic Methods ◽  
Earned Value ◽  
Value Analysis ◽  
Earned Value Analysis ◽  
Qualitative Approaches

Earned value analysis (EVA) is a well-known project management tool for monitoring and forecasting the project performance such as time and cost. Despite the benefits found in the manufacturing industry, EVA has not been widely implemented in the Malaysian construction industry. This study is aimed to determine the advantages of EVA over other project control methods, to determine the suitability of implementing EVA in construction projects, and to develop a working flowchart as a guide in implementing EVA. Accordingly, qualitative approaches including the structured interview survey and the flowchart development were employed in this study. Findings reveal that comparing to stochastic methods, Fuzzy logic model, and miscellaneous methods, the EVA has remarkable advantages in accuracy, flexibility, and adaptability for complexity. Malaysian government has decided to implement EVA to enhance the level of project management for the whole country. Hence, an EVA working flowchart was developed by the authors, through which more de- tailed project status could be monitored and more accurate future performance of the project could be forecasted. Santrauka Uždirbtos vertės analizė (UVA, angl. Earned Value Analysis, EVA) – paplitęs projektų valdymo įrankis, skirtas projekto efektyvumui, pavyzdžiui, laikui ir sąnaudoms, stebėti ir prognozuoti. Nors UVA nauda gamybos sektoriuje akivaizdi, Malaizijos statybų sektoriuje ji nėra plačiai taikoma. Šiuo tyrimu siekiama nustatyti UVA pranašumus prieš kitus projektų kontrolės metodus, nustatyti UVA tinkamumą statybų projektams ir sukurti darbinę srautų diagramą, kuri padėtų diegiant UVA. Taigi tyrime taikyti kokybiniai metodai, įskaitant apklausą, naudojant nustatytos struktūros pokalbius, ir srautų diagramos kūrimą. Išvados rodo, kad tikslumu, lankstumu ir pritaikymu sudėtingiems atvejams UVA yra gerokai prana- šesnė už stochastinius metodus, neraiškiosios logikos modelį ir įvairius kitus metodus. Malaizijos Vyriausybė nutarė įdiegti UVA, taip pagerindama projektų valdymą visoje šalyje. Dėl to autoriai sukūrė darbinę UVA srautų diagramą, kuri leidžia stebėti smulkesnius projekto būsenos aspektus ir tiksliau prognozuoti projekto efektyvumą ateityje.

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