Earned value analysis approach by extending new key performance indicators in a new framework under a grey environment

A. Eshghi | Seyed Meysam Mousavi | J. Antucheviciene | V. Mohagheghi

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URL :   http://research.shahed.ac.ir/WSR/WebPages/Report/PaperView.aspx?PaperID=116880
Date :  2019/08/28
Publish in :    Economic Computation and Economic Cybernetics Studies and Research

Link :  http://www.ecocyb.ase.ro/Articles2019_3.htm
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Abstract :

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An inseparable part of project management is the existence of uncertainty. There are various methodologies and tools to handle the impact of uncertainty on project performance.Todenote the uncertainty, we use grey theory because ofits accuracy and convenience in modeling uncertainty.In this paper, a new grey-based earned value technique with a new extended set of key performance indicators (KPIs)is proposed to measure the progress, performance, cost and time estimate at completion of the construction projects under uncertainty circumstances. A new formulation of cost and time estimation at completion is introduced that is based on using a newly developed weighting method called W-TODIM. The proposed model improves managing different aspects of a project through a flexible and intelligent approach. Finally, a case study of construction project from the literature is presented to show the efficiency of presented model.