Implementation and evaluation of earned value index to achieve an accurate project time and cost estimation and improve "Earned Value Management System"
Document Type
Conference Item
Publication Date
1-1-2009
Abstract
This paper presents an implementation and evaluation of Earned Value (EV) method of projects to improve earned value management system (EVMS) and forecasting time and cost for projects. These method use established consists of four variables: Scheduled Performance Index (SPI), Cost Performance Index (CPI), Cost Variance (CV), Schedule Variance (SV). The model has been validated by a simulation study using a progress generator a new software. This software was developed in Visual Studio 2008 - Visual Basic NET 2008 and Microsoft Office Project 2007 and it included some basic assumptions and data were generated day by day randomly. The results show a strong relationship between response variable and above four predictors. Therefore, it can be concluded that the model could be used in a wide range of projects for EAC estimation.
Keywords
Earned Value, Performance Management, Time and Cost Forecasting, Schedule Performance Index, Cost Performance Index
Divisions
fsktm
Event Title
International Conference on Information Management and Engineering
Event Location
Kuala Lumpur, MALAYSIA
Event Dates
APR 03-05, 2009
Event Type
conference
Additional Information
Univ Malaya, Dept Software Engn, Fac Comp Sci & Informat Technol, Kuala Lumpur 50603, Malaysia