A new formula to “Estimate At Completion” of a Project’s time to improve “Earned Value Management System”

Author

Iranmanesh, H. ; Mojir, N. ; Kimiagari, S.

Author_Institution

Univ. of Tehran, Tehran

fYear

2007

fDate

2-4 Dec. 2007

Firstpage

1014

Lastpage

1017

Abstract

This paper presents a new method for estimate at completion (EAC) of project´s time to improve earned value management system (EVMS). The new formula established consists of four variables: scheduled performance index (SPI), scheduled percent complete by duration (SPCD), actual percent complete by duration (APCD), and sum of durations to due time (SDDT). The model has been validated by a simulation study using a progress generator program for typical RCPS problem project library. This program was developed in VBA-MSP and it included some basic assumptions and data were generated day by day randomly. The results show a strong linear 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

performance index; project management; actual percent complete by duration; earned value management system; estimate at completion; progress generator program; scheduled percent complete by duration; scheduled performance index; sum of durations to due time; Costs; Data envelopment analysis; Econometrics; Economic forecasting; Educational institutions; Engineering management; Libraries; Performance analysis; Project management; Regression analysis; Cost Performance Index; Earned Value; Estimate At Completion; Project Performance Management; Schedule Performance Index;

fLanguage

English

Publisher

ieee

Conference_Titel

Industrial Engineering and Engineering Management, 2007 IEEE International Conference on

Conference_Location

Singapore

Print_ISBN

978-1-4244-1529-8

Electronic_ISBN

978-1-4244-1529-8

Type

conf

DOI

10.1109/IEEM.2007.4419345

Filename

4419345