Improving the Forecasting Accuracy of a Project Status Using the Inputs of Earned Value Management – A Review Article

Authors

  • Sudhanva N
  • B Prakash Rao

Abstract

The earned value method (EVM) is recognized as a viable method for evaluating and forecasting project cost performance. Its application to schedule performance forecasting has been limited due to poor accuracy. The index based EVM forecasting methods are deterministic approaches having large forecasting errors in the initial stages of a project. Hence this paper gives a brief overview of the advanced accurate approaches like Kalman filter, growth model and linear modelling which can be used to obtain accurate cost and schedule estimates and it also provides future scope in the area of project forecasting for future research.
Keywords: EVM, Forecasting accuracy, Deterministic approach

Downloads

Published

2021-01-15

Issue

Vol. 5 No. 3 (2015)

Section

Research Article

License

Declaration and Copyright Transfer Form

(to be completed by authors)

I/ We, the undersigned author(s) of the submitted manuscript, hereby declare, that the above manuscript which is submitted for publication in the STM Journals(s), is not published already in part or whole (except in the form of abstract) in any journal or magazine for private or public circulation, and, is not under consideration of publication elsewhere.

  • I/We will not withdraw the manuscript after 1 week of submission as I have read the Author Guidelines and will adhere to the guidelines.
  • I/We Author(s ) have niether given nor will give this manuscript elsewhere for publishing after submitting in STM Journal(s).
  • I/ We have read the original version of the manuscript and am/ are responsible for the thought contents embodied in it. The work dealt in the manuscript is my/ our own, and my/ our individual contribution to this work is significant enough to qualify for authorship.
  •  I/We also agree to the authorship of the article in the following order:

Author’s name                                    

 

1. ________________

2. ________________

3. ________________

4. ________________

 

We  Author(s) tick this box and would request you to consider it as our signature as we agree to the terms of this Copyright Notice, which will apply to this submission if and when it is published by this journal.