Earned value management under risk

Authors:

VDViktor K. Diamantas
Viktor K. Diamantas
Konstantinos A. Kirytopoulos
Konstantinos A. Kirytopoulos
VLVrassidas N. Leopoulos
Vrassidas N. Leopoulos

1 January 2011

journal article
Published by Inderscience Publishers in International Journal of Project Organisation and Management

Vol. 3 (3/4) , 335
DOI:10.1504/ijpom.2011.042037

Abstract

This paper presents a newly developed project monitoring and controlling method based on the synergy between project risk management (PRM) and earned value management (EVM). Its fundamental attribute is the introduction of the criticality index in EVM, which effectively models a dynamic aspect of the project frequently ignored in practice that is the existence of multiple critical paths. Two new stochastic indices are introduced, namely the weighted EAC

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