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An Extension of Earned Value Management

Paper outlines system to improve the accuracy of schedule analysis on projects

160115 - Anton Setiawan 80x

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Anton Setiawan

23 April 2016 – Milan, Italy – A new resource has been added to the PM World Library related to earned value management system. The new resource is titled “An Extension of the Earned Value Management System to Improve the Accuracy of Schedule Analysis Results”. The paper was recently published in the Iranian Journal of Management Studies.

Earned value management (EVM) is one of the most effective performance measurement and feedback tools for managing a project. EVM allows the calculation of cost and schedule variances and the forecast of a project’s cost and schedule duration. It was originally developed to manage time and cost on a project, but it has some weak points in analyzing the time performance of a project.

This paper attempts to improve this weaknesses by developing two methods. The first method is a simple and approximation method to minimize errors in EVM analysis with a high probability. The second method is an exact approach that uses earned value and floating time concepts.

To access this new resource, go to the “Applications and Hot Topics” section of the library at, click on “Earned Value Management”, scroll down to resource. Must be a registered member and logged-in to access.