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A New Approach for Complementing the Earned Value Method for Project Progress Monitoring and Controlling

Author

Listed:
  • Ali M. Fayad

    (Lebanese International University, Bekaa, Lebanon)

  • Bassam Hussein

    (International University of Beirut, Beirut, Lebanon)

  • Mohamad Hajj-Hassan

    (International University of Beirut, Beirut, Lebanon)

  • Amin Haj-Ali

    (Lebanese International University, Bekaa, Lebanon)

Abstract

The earned value management method is commonly used for monitoring and assessing project budget and schedule performance. Although widely used, this method does not consider the time value of money. This paper suggests the inclusion of inflation as a factor affecting project performance and gives a methodology to do so using the net present value. This is done by adjusting the present value and actual cost of the work packages. The result is more realistic progress measurements and performance indicators.

Suggested Citation

  • Ali M. Fayad & Bassam Hussein & Mohamad Hajj-Hassan & Amin Haj-Ali, 2019. "A New Approach for Complementing the Earned Value Method for Project Progress Monitoring and Controlling," New Challenges in Accounting and Finance, EUROKD, vol. 2, pages 11-18.
    • Handle: RePEc:bco:ncafaa::v:2:y:2019:p:11-18
    DOI: 10.32038/NCAF.2019.02.02
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