Conclusions

Mario Vanhoucke

Chapter Chapter 8 in Measuring Time, 2009, pp 149-155 from Springer

Abstract: Abstract Earned value systems have been set up to deal with the complex task of controlling and adjusting the baseline project schedule during execution, taking into account project scope, timed delivery and total project budget. It is a well-known and generally accepted management system that integrates cost, schedule and technical performance. It is mainly used to calculate cost and schedule variances, performance indices and forecasts of a project’s final cost and duration. The earned value method provides early indications of project performance to highlight the need for eventual corrective actions. The research study of this book deals with the project performance and control phase of the project life cycle, and the corresponding feedback loop from control to planning and scheduling to take corrective actions when necessary. More precisely, the focus is on a reactive scheduling early warning system by means of earned value metrics. Although EVM has been set up to follow up both time and cost, the majority of the research has been focused on the cost aspect. Recently, different sources in literature show that the “classic” earned value metrics fail in predicting the total project duration in an accurate way. The research study in this book aims at filling that gap and investigates the time dimension of earned value management systems and their potential to predict the final duration of a project.

Date: 2009
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DOI: 10.1007/978-1-4419-1014-1_8

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