Implementing the Objectives in Earned Value Management with a NewForecasting Formula and Dynamic Risk Analysis

• Autores: José Ramón Otegi Olaso, José Ignacio Muñoz Hernández, Julen Rubio Gómez
• Localización: Research & Education in Project Management. REPM 2018 Proceedings: Proceedings of the 1st International Conference on Researchand Education in Project Management / José Ramón Otegi Olaso (ed. lit.), Nerea Toledo Gandarias (ed. lit.), Ianire Taboada Puente (ed. lit.), 2018, ISBN 978-84-697-9972-7, págs. 84-86
• Idioma: inglés
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• Resumen

  • This paper introduces an analytical model that implements the project objectives in Earned Value Management. Italso incorporates the novel contribution of a formula for forecasting objectives at the end of the project. Thisformula adopts the same style as the EVM forecasting formulas. Moreover, the model can be used for riskanalysis by means of Monte Carlo simulations building a dynamic probability field of project success. Theapplication of the model to a real engineering project gives that the measurement of technical objectives providesmore realistic earned value from a functional point of view. This allows the project managers to better define theacceptance limits for the performance indexes at the initial phases of a project.