Using Earned Value Management for More Sustainable Project Schedule Control

Research Question: The aim of this paper is to provide a state-of-science review and offer critical analysis contemporary schedule related Earned Value Management (EVM) approaches. Motivation: Since the introduction EVM as tool for project control in late 1960s, academics have tried improve its best application. Although method significantly contributed efficient cost management, application management was falling behind. A significant effort has been made usability time which resulted dramatic evolution. builds on existing literature earlier studies, adding value with inclusion cost-based time-based approaches assessing performance. Idea: idea evaluate some most methods identify open issues. main study hypothesis that recent more reliable forecast thus solid ground further improvements. Data: case form simplified used illustrate how different compare terms conceptualization, methodological issues, theoretical underpinnings. Tools: combination statistical Monte Carlo simulation performance Microsoft Excel data processing, Project SATA software visualization, Oracle Crystal Ball simulation. Findings: Quantitative confirmed project-specific Duration (EDM) Schedule (ES) sustainable accurate results during whole projects lifespan, while forecasts obtained by traditional proved be unreliable later stages project. While practical generally lags after growing theory, latest paves way integration risk making stochastic therefore realistic. Contribution: can basis introducing advanced usable models, will control.