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A new interval type-2 fuzzy approach for analyzing and monitoring the performance of megaprojects based on earned value analysis (with a case study)

  • Amin EshghiEmail author
  • S. Meysam Mousavi
  • Vahid Mohagheghi
Original Article
  • 22 Downloads

Abstract

Major factors of project success include using tools of performance measurements and feedbacks. Earned value management (EVM) is a unique issue within megaprojects due to their inevitable external risks and variations. In order to improve the effectiveness and accuracy of future status estimation of megaprojects, in this paper a novel evaluation model is proposed which takes account of interval type-2 fuzzy sets (IT2FSs) to cope with uncertainty. In the proposed approach, in addition to cost and time criteria, a great deal of attention is paid for other important factors affecting project success, including quality, stakeholder satisfaction, safety and risk, which is computed from different perspectives. Moreover, to make informed decisions and to reduce uncertainty in assessment of megaprojects, key performance indicators (KPIs) are provided. Also, a new extension of multi-criteria decision-making method is introduced to weigh KPIs in future performance equations. Finally, the proposed IT2F-EVM approach is applied to control and estimate the future status of a real case study in a petro-refinery company. The results show that the approach can successfully address highly uncertain environments.

Keywords

Earned value management Key performance indicators Megaprojects Interval type-2 fuzzy sets Case study of petro-refinery 

Notes

Compliance with ethical standards

Conflict of interest

The authors declare that they have no conflict of interest.

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Copyright information

© Springer-Verlag London Ltd., part of Springer Nature 2019

Authors and Affiliations

  • Amin Eshghi
    • 1
    Email author
  • S. Meysam Mousavi
    • 1
  • Vahid Mohagheghi
    • 1
  1. 1.Department of Industrial Engineering, Faculty of EngineeringShahed UniversityTehranIran

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