Self-Starting Control Chart and Post Signal Diagnostics for Monitoring Project Earned Value Management Indices

Earned value management (EVM) is a well-known approach in a project control system which uses some indices to track schedule and cost performance of a project. In this paper, a new statistical framework based on self-starting monitoring and change point estimation is proposed to monitor correlated EVM indices which are usually auto-correlated over time and non-normally distributed. Also, a new change point estimator is developed to find the real time of change in the indices mean. Furthermore, a new diagnosing method is presented to recognize the deviated mean index. The performance of the proposed methods is evaluated through simulation studies and an illustrative example.