New approaches to Earned value management in Project management

Document Type : Research Article

Author

B.Sc. student, Project Management Engineering, Payame Noor University, Karaj, Iran

Abstract
Project management is an organized system and resource management so that the project is completed with a specific vision, specific quality, specific time and specific cost. Project management is the process by which a project must achieve the desired result in the easiest and most cost-effective way during its life cycle. Measuring the performance of the project team and determining the progress of the project and comparing it with the initial plan has always been and will be the concern of project managers and it can be said that project performance control with value management is the most efficient and common way to control project performance It started in the middle of the twentieth century and gradually spread. The purpose of this study is to investigate new approaches in the field of value management gained by reviewing the literature in this field. In most recent researches on the subject of value management, it has been pointed out that it is insufficient to achieve the goals of project managers. Therefore, in recent years, many researchers have tried to improve the method of managing the value gained by combining it with other methods. In construction project management, the management of acquired value is considered as a suitable tool and therefore has been implemented in various construction industries. Acquired value management is based on the belief that it increases the value of the project. Given the dynamic environment in which construction companies must operate, especially in turbulent environments that are a direct result of the recent global recession, it is important to address the executive potential of value management in the construction industry. The difference between traditional value management forecasting approaches and new value management approaches in project management can be a way out of problems and shortcomings in this area.

Keywords

[1] Khasal, T., Saghaei, A., Khalilzadeh, M., & Soltani, R. (2016). Beyond EVM: A Comprehensive Structure of Integrated
Cost, Program, Quality and Risk Control. 12th International Conference on Project Management, Tehran. [Persian]
[2] Walker, A. (2015). Project management in construction. John Wiley & Sons.
[3] Oberlender, G. D. (2014). Project management for engineering and construction. McGraw-Hill Education.
[4] Batselier, J., & Vanhoucke, M. (2015). Construction and evaluation framework for a real-life project
database. International Journal of Project Management, 33 (3), 697-710.
[5] Mahmoudi, A., & Kalantari, B. (2015). Evaluating the progress of projects using the acquired value method EVM.
National Conference on Urban Architecture and Tourism Sustainable Urban Development, Qazvin. [Persian]
[6] Kim, B. C. (2016). Probabilistic evaluation of cost performance stability in earned value management. Journal of
Management in Engineering, 32 (1), 04015025.
[7] Mishakova, A., Vakhrushkina, A., Murgul, V., & Sazonova, T. (2016). Project control based on a mutual application of
pert and earned value management methods. Procedia engineering, 165 , 1812-1817.
[8] Chang, C. J., & Yu, S. W. (2018). Three-variance approach for updating earned value management. Journal of
Construction Engineering and Management, 144 (6), 04018045.
[9] Ansari, R., & Amin Ranjbar, A. (2018). A Study of Integrated Approaches to Earned Value Management and Risk
Management in Estimating the Cost and Time of Construction Projects, International Conference on Civil Engineering,
Architecture and Urban Development Management in Iran, Tehran.
[10] Miguel, A., Madria, W., & Polancos, R. (2019, April). Project Management Model: Integrating Earned Schedule,
Quality, and Risk in Earned Value Management. In 2019 IEEE 6 th International Conference on Industrial Engineering and
Applications (ICIEA) (pp. 622-628). IEEE.
[11] Sutrisna, M., Pellicer, E., Torres-Machi, C., & Picornell, M. (2020). Exploring earned value management in the
Spanish construction industry as a pathway to competitive advantage. International Journal of Construction
Management, 20 (1), 1-12.
[12] Bruce, G. (2021). Progress Monitoring and Control. In Shipbuilding Management (pp. 185-196). Springer, Singapore.
[13] Babar, S., Thaheem, M. J., & Ayub, B. (2017). Estimated cost at completion: Integrating risk into earned value
management. Journal of Construction Engineering and Management, 143 (3), 04016104.
[14] Abdi, A., Taghipour, S., & Khamooshi, H. (2018). A model to control environmental performance of project
execution process based on greenhouse gas emissions using earned value management. International Journal of Project
Management, 36 (3), 397-413. [Persian]
[15] Kerkhove, L. P., & Vanhoucke, M. (2017). Extensions of earned value management: Using the earned incentive
metric to improve signal quality. International Journal of Project Management, 35 (2), 148-168.
www.cpjournals.com ISSN:6262-155X )Civil & Project Journal)CPJ(( نشریه عمران و پروژه
ؾبل ز مٍ، ز ضٍ 2، قوبض 11 ، ث وْی 1399 ،قوبض پ ب٘پ 21 ،نفح 31 تب نفح 41
33
[16] Moradi, N., Mousavi, S. M., & Vahdani, B. (2017). An earned value model with risk analysis for project management
under uncertain conditions. Journal of Intelligent & Fuzzy Systems, 32 (1), 97-113. [Persian]
[17] Picornell, M., Pellicer, E., Torres-Machí, C., & Sutrisna, M. (2017). Implementation of earned value management in
unit-price payment contracts. Journal of Management in Engineering, 33 (3), 06016001.
  • Receive Date 21 January 2021
  • Revise Date 25 January 2021
  • Accept Date 16 February 2021
  • First Publish Date 16 February 2021
  • Publish Date 20 January 2021