Abstract
Earned value management (EVM) is widely utilized for project progress monitoring and cost control purposes. However, traditional EVM techniques are intended for ideal scheduling scenarios without considering the effect of activity-level and project-level delays. The EVM fails to account for dynamic changes of project status in terms of project time extension and associated cost overrun, potentially generating misleading project performance tracking indicators. This research proposes a refined EVM approach based on discrete event simulation (scheduling simulation) to tackle complicated resource-constrained scheduling. A case study is used to demonstrate its applications on a resource-constrained schedule under postulated delay scenarios. It is found that this approach is conducive to truthfully reflecting the project performance status given a resource-constrained schedule subject to complicated activity-project delay. Conclusions are drawn by recapitulating the research contributions and addressing the limitations in the end.
Original language | English |
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Title of host publication | Proceedings of the 2011 Winter Simulation Conference, WSC 2011 |
Pages | 3455-3466 |
Number of pages | 12 |
DOIs | |
Publication status | Published - 1 Dec 2011 |
Event | 2011 Winter Simulation Conference, WSC 2011 - Phoenix, AZ, United States Duration: 11 Dec 2011 → 14 Dec 2011 |
Conference
Conference | 2011 Winter Simulation Conference, WSC 2011 |
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Country/Territory | United States |
City | Phoenix, AZ |
Period | 11/12/11 → 14/12/11 |
ASJC Scopus subject areas
- Software
- Modelling and Simulation
- Computer Science Applications