Forward-Looking State-of-the-Art Review on Earned Value Management Systems: The Disconnect between Academia and Industry

Earned value management (EVM) is a project approach that can enhance the probability of success. It applied widely across different industry sectors (e.g., energy, aerospace, construction, defense, and manufacturing), generally through use an earned system (EVMS). A holistic up-to-date literature review on EVM EVMS does not exist. provide comprehensive perspective topic, identifying summarizing existing body knowledge, as foundation to advance state practice EVM/EVMS. Therefore, objective this paper investigate EVM/EVMS art by critically reviewing academic publications, with specific focus maturity environment surrounding its implementation. By performing systematic review, authors identified 600 publications since inception concept in 1962, then narrowed down list 160 relevant from last decade for closer review. The findings include discovery eight emergent themes. Of these themes, “forecasting/prediction” constitutes largest portion recent literature, followed “application EVMS.” One interesting finding maturity, although being critical only discussed one publication. Publications focused have increased significant differences were found between academia terms limitations extensions EVM/EVMS, environment, compliance. key designing reliable should combine both technical social aspects This forward-looking provides state-of-the-art while highlighting gaps knowledge introducing new perspectives support research application.