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.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2009 Springer Science+Business Media, LLC
About this chapter
Cite this chapter
Vanhoucke, M. (2009). Conclusions. In: Measuring Time. International Series in Operations Research & Management Science, vol 136. Springer, Boston, MA. https://doi.org/10.1007/978-1-4419-1014-1_8
Download citation
DOI: https://doi.org/10.1007/978-1-4419-1014-1_8
Published:
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4419-1013-4
Online ISBN: 978-1-4419-1014-1
eBook Packages: EngineeringEngineering (R0)