| Issue |
MATEC Web Conf.
Volume 281, 2019
International Conference of Engineering Risk (INCER 2019)
|
|
|---|---|---|
| Article Number | 05001 | |
| Number of page(s) | 6 | |
| Section | Data Uncertainty and Security | |
| DOI | https://doi.org/10.1051/matecconf/201928105001 | |
| Published online | 21 May 2019 | |
An Improved Earned Value Analysis Tool for Mitigating Progress Risks in Long Duration Projects
1 Lebanese International University, Department of Industrial Engineering, Beirut, Lebanon
2 International University of Beirut, Department of Industrial Engineering, Beirut, Lebanon
3 Lebanese International University, Department of Computer and Communications Engineering, Beirut, Lebanon
† Corresponding author: amin.hajali@liu.edu.lb
As a risk control tool, earned value analysis is crucial for identifying risky trends in the budget or schedule of a project. This tool relies on earned value management, a method for calculating cost and schedule variances. However, this method does not take into account the time value of money. This in itself is a threat that could lead to misleading data and eventually wrong decisions. This paper explores the risk management process, the earned value management method, and proposes a methodology that compliments the earned value management method with net present value calculations. This will allow project managers to take sound decisions based on more accurate information.
© The Authors, published by EDP Sciences, 2019
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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