A New Version of Earned Value Analysis for Mega Projects Under Interval-valued Fuzzy Environment

Authors

  • Behnam Vahdani Department of Industrial Engineering and Mechanical Engineering, Islamic Azad University-Qazvin branch, Qazvin, Iran
  • N Moradi Department of Industrial Engineering, Faculty of Engineering, Shahed University, Tehran, Iran
  • Seyed Meysam Mousavi Department of Industrial Engineering, Faculty of Engineering, Shahed University, Tehran, Iran
Abstract:

The earned value technique is a crucial and important technique in analysis and control the performance and progress of mega projects by integrating three elements of them, i.e., time, cost and scope. This paper proposes a new version of earned value analysis (EVA) to handle uncertainty in mega projects under interval-valued fuzzy (IVF)-environment. Considering that uncertainty is very common in mega projects’ activities, the proposed IVF-EVA model is very useful and applicable in evaluating the progress of projects. In this paper, analyzing earned value indices and calculating them with linguistic terms have been discussed. They are then converted into interval-valued fuzzy numbers (IVFNs) for the evaluations. Finally, an application example from the recent literature is presented and steps of the proposed IVF-EVA are elaborated.The earned value technique is a crucial and important technique in analysis and control the performance and progress of mega projects by integrating three elements of them, i.e., time, cost and scope. This paper proposes a new version of earned value analysis (EVA) to handle uncertainty in mega projects under interval-valued fuzzy (IVF)-environment. Considering that uncertainty is very common in mega projects’ activities, the proposed IVF-EVA model is very useful and applicable in evaluating the progress of projects. In this paper, analyzing earned value indices and calculating them with linguistic terms have been discussed. They are then converted into interval-valued fuzzy numbers (IVFNs) for the evaluations. Finally, an application example from the recent literature is presented and steps of the proposed IVF-EVA are elaborated.

Upgrade to premium to download articles

Sign up to access the full text

Already have an account?login

similar resources

A NEW MULTI-OBJECTIVE OPTIMIZATION APPROACH FOR SUSTAINABLE PROJECT PORTFOLIO SELECTION: A REALWORLD APPLICATION UNDER INTERVAL-VALUED FUZZY ENVIRONMENT

Organizations need to evaluate project proposals and select the ones that are the most effective in reaching the strategic goals by considering sustainability issue. In order to enhance the effectiveness and the efficiency of project oriented organizations, in this paper a new multi-objective decision making (MODM) approach of sustainable project portfolio selection is proposed which applies in...

full text

An Assessment Method for Project Cash Flow under Interval-Valued Fuzzy Environment

Effective project management requires reliable knowledge of cash required in different stages of project life cycle. Getting this knowledge is highly dependent on sophisticated consideration of project environment. Nature of projects and their environments are associated with uncertain conditions. In this paper, a new project cash flow assessment method based on project scheduling is proposed t...

full text

a new multi-objective optimization approach for sustainable project portfolio selection: a realworld application under interval-valued fuzzy environment

organizations need to evaluate project proposals and select the ones that are the most effective in reaching the strategic goals by considering sustainability issue. in order to enhance the effectiveness and the efficiency of project oriented organizations, in this paper a new multi-objective decision making (modm) approach of sustainable project portfolio selection is proposed which applies in...

full text

A new interval-valued approximation of interval-valued fuzzy numbers

In this paper, we proposed a new interval-valued approximation of interval-valued fuzzy numbers, which is the best one with respect to a certain measure of distance between interval-valued fuzzy numbers. Also, a set of criteria for interval-valued approximation operators is suggested.

full text

New Generalized Interval Valued Intuitionistic Fuzzy Numbers

The aim of this paper is investigate the notion of a generalized interval valued intuitionistic fuzzy number (GIVIFN), which extends the interval valuedintuitionistic fuzzy number. Firstly, the concept of GIVIFNBs is introduced.Arithmetic operations and cut sets over GIVIFNBBs are investigated. Then the values and ambiguities of the membership degree and the non-membership degree and the value ...

full text

The Cost Monitoring of Construction Projects Through Earned Value Analysis

In construction industry, the term ‘procurement’ is considered as a project based job where clients and contractors are always keen to observe performance indicators. These indicators represent financial and non-financial efficiency of project activities. Among these, the monitoring of financial indicators is an important function of project management. Therefore, during the construction phase,...

full text

My Resources

Save resource for easier access later

Save to my library Already added to my library

{@ msg_add @}


Journal title

volume 13  issue 2

pages  57- 72

publication date 2020-07-01

By following a journal you will be notified via email when a new issue of this journal is published.

Hosted on Doprax cloud platform doprax.com

copyright © 2015-2023