Implementation and Evaluation of Earned Value Index to Achieve an Accurate Project Time and Cost Estimation and Improve "Earned Value Management System"

Author

Attarzadeh, Iman ; Hock, Ow Siew

Author_Institution

Dept. of Software Eng., Univ. of Malaya, Kuala Lumpur

fYear

2009

fDate

3-5 April 2009

Firstpage

312

Lastpage

316

Abstract

This paper presents an implementation and evaluation of Earned Value (EV) method of projects to improve earned value management system (EVMS) and forecasting time and cost for projects. These method use established consists of four variables: Scheduled Performance Index (SPI), Cost Performance Index (CPI), Cost Variance (CV), Schedule Variance (SV). The model has been validated by a simulation study using a progress generator a new software. This software was developed in Visual Studio 2008 - Visual Basic .NET 2008 and Microsoft Office Project 2007 and it included some basic assumptions and data were generated day by day randomly. The results show a strong relationship between response variable and above four predictors. Therefore, it can be concluded that the model could be used in a wide range of projects for EAC estimation.

Keywords

project management; software cost estimation; software performance evaluation; Microsoft Office Project 2007; Visual Basic .NET 2008; Visual Studio 2008; cost estimation; cost performance index; cost variance; earned value management system; forecasting time; project time; schedule variance; scheduled performance index; Conference management; Costs; Data envelopment analysis; Econometrics; Economic forecasting; Engineering management; Performance analysis; Project management; Shape measurement; Technology management; Earned value; cost performance index; performance management; time and cost forecasting index;

fLanguage

English

Publisher

ieee

Conference_Titel

Information Management and Engineering, 2009. ICIME '09. International Conference on

Conference_Location

Kuala Lumpur

Print_ISBN

978-0-7695-3595-1

Type

conf

DOI

10.1109/ICIME.2009.22

Filename

5077049