Cost/Schedule Monitoring and Forecasting for Project Based on Earned Value Management (EVM)

Jian Wen Huang; Hui Min Pan; Yan Li; Yi Ting Zhu; Zai Yi Liao

doi:10.4028/www.scientific.net/AMR.919-921.1437

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 919-921Cost/Schedule Monitoring and Forecasting for...

Cost/Schedule Monitoring and Forecasting for Project Based on Earned Value Management (EVM)

Abstract:

Earned value management (EVM) is one of the most widely used control tools in project management. It is a well-known management system that integrates cost, schedule and performance. Based on the traditional concept of EVM, the cost/schedule monitoring and forecasting model is proposed in this paper. It gives us the analysis steps and provides the methods for monitoring the actual situation and forecasting the final cost and duration. By using this model, the managers are able to know timely the status of a project in terms of budget and schedule and forecast the developing trend and ultimate outcome of the project. So it is a reliable method to improve the capability of project managers for making reasonable decisions.

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Periodical:

Advanced Materials Research (Volumes 919-921)

Pages:

1437-1440

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.919-921.1437

Citation:

Cite this paper

Online since:

April 2014

Authors:

Jian Wen Huang*, Hui Min Pan, Yan Li, Yi Ting Zhu, Zai Yi Liao

Keywords:

Earned Value Management (EVM), Forecast, Monitor, Performance Analysis

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* - Corresponding Author

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