Predicting the project time and costs using EVM based on gray numbers

Nadafi, Samira; Moosavirad, Seyed Hamed; Ariafar, Shahram

doi:10.1108/ecam-07-2018-0291

Cited by 17 publications

(8 citation statements)

References 34 publications

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“…EVM is appropriate for the early identification of trends and variances from the project plan baseline, and it includes accurate forecasts of project performance problems. Earned value management with an earned schedule (EVM/ES) is a project control method that applies to top-down project schedule control (Nadafi et al, 2019). Managers can use EVM to measure the implementation of a project through management techniques that assess a work in progress to determine what will happen to the project in the future (Al-Fadhli & Al-Bazaz, 2020).…”

Section: Earned Value Managementmentioning

confidence: 99%

Challenges and opportunities of completing successful projects using Earned Value Management

Stone¹

2023

OJBM

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This research proposed analyzing projects from a risk uncertainty perspective by using EVM to predict the systemic (Epistemic Risk) and provisioning (Aleatory risk) uncertainties to achieve project success. The results of the study synthesized empirical findings with theories and concepts. To bridge the gap, this research study focuses on minimizing or alleviating epistemic and aleatory risk uncertainties. The research method included a qualitative exploratory study with thematic analysis. The participants for the study were project managers with a PMP certification and EVM knowledge who worked on government contract requirements and members of the local chapter of the Project Management Institute.

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Section: Earned Value Managementmentioning

confidence: 99%

Challenges and opportunities of completing successful projects using Earned Value Management

Stone¹

2023

OJBM

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“…” These two standards are fundamental elements of any PCS to provide a project team with performance efficiencies indicators such as Cost Performance Index (CPI) and Schedule Performance Index (SPI). It is important for a PCS to have these standards defined, documented and then used consistently (Czemplik, 2014; Nadafi et al , 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

A measurement model of project control systems success for engineering and construction projects case study: contractor companies in Saudi's petroleum and chemical industry

Jawad

Ledwith

2021

ECAM

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PurposeThe purpose of this paper is to presents a new modeling approach that provides a measurement tool for evaluating the effectiveness of Project Control Systems (PCS) and the improvement of the project control capability as a part of an organization's project management processes.Design/methodology/approachThis study used a project management maturity approach to develop a measurement model of PCS success. The key elements in this model have been identified using the Fuzzy Analytic Hierarchy Process (FAHP) method to analyze data from a case study involving contractor companies in Saudi's petroleum and chemical industry.FindingsThe results identified six critical elements for PCS success: (1) Change Management, (2) Earned Value, (3) Baselined Plan, (4) Resource Loaded, (5) Progress Method and (6) Governance Program. In addition, Project Forecasting and Corrective Action Verification were identified as the main areas where clients and contractors need to focus for the effective deployment of a PCS.Practical implicationsThe results of this study were used to create a PCS Maturity Model (PCSMM) and a PCS Success Index (PCSSI). The value of this index can help project managers to identify the maturity level of their PCS and improvement areas that lead to enhanced project performance.Originality/valueThis research presents an alternative maturity model for PCS assessment that provides a practical tool to identify areas for improving the critical elements of PCS success. The study draws a clear distinction between overall project success and the success of the PCS.

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Section: Literature Reviewmentioning

confidence: 99%

“…However, to precisely determine costs estimation in the projects are remaining mysterious and so far halted by developing model, simulation, and approximately techniques. The earned value management (EVM) method employed from the interval gray numbers (IGNs) has been tested by Nadafi et al (2019), and also by activity-based costing (ABC) approach (Fang and Ng, 2011). But, there are still questioning to define project costs or building costs as stated by Shehab and Farooq (2013), Alashwal and Chew (2017), and even at large projects (Jayaraman, 2016).…”

Section: Literature Reviewmentioning

confidence: 99%

Determining value of logistics costs in projects: empirical findings based-on executing several cement projects in Indonesia

Subiyanto

Suyoto²

2020

Heliyon

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This research tries to shed light on precise values of logistics costs that so far undisclosed. The values are important for every project planners to evaluate, control and monitoring, and especially imperative for procurement activities. Tender, bidding, and defining the scope of contracts and value can be well organized without time-consuming. This research uses methodology previously developed by Subiyanto (2020a) and discussed only a few particular and directly related to the logistics. The model had been decomposed by utilizing path analysis and the data had been regressed to define variables as the most inflator for logistics. The findings are total logistics costs in Indonesia generally at around 14.6% to total costs of investment. It consists following of insurance cost 0.11%, costs for customs clearance 6.52%, foreign logistics costs 6.62%, domestic manufacture 0.47%, and domestic logistics costs 0.89%. This research is not discussing logistics costs relating to human resources, human travelling, and internal logistics conducted by vendors or contractors as the scope included counted within their procurement contract. These results are important as guidance for project planners, controllers, and other parties to prepare costs more precisely. Negotiating to the banks will be easier as the more precise amount of budgets had been estimated. Due to the important values that have been identified, there will help transparency and governance conducting the projects. Procurement processes involving societies are more objective and better. This is a novelty finding as previous researchers have not decided yet.

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Predicting the project time and costs using EVM based on gray numbers

Cited by 17 publications

References 34 publications

Challenges and opportunities of completing successful projects using Earned Value Management

Challenges and opportunities of completing successful projects using Earned Value Management

A measurement model of project control systems success for engineering and construction projects case study: contractor companies in Saudi's petroleum and chemical industry

Determining value of logistics costs in projects: empirical findings based-on executing several cement projects in Indonesia

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