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Risk Analysis Using Earned Value: An Engineering Project Management Study

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  • Scheljert Denas

    (Tulane University, Belle Chasse, LA, USA)

Abstract

Control and feedback in complex and sensitive systems with different resources and properties in uncertainty conditions are one of the significant challenges for project managers. Therefore, in this paper an integrated model with quantitative and qualitative approach based on Earned value management and risk analysis methods proposed to decrease deviations in time and cost estimation at complete (EAC(t) & EAC). Using the proposed performance indexes based on risk scores obtained by non-parametric resampling technique, namely bootstrap, calculating more accurate estimations of final cost and duration at lower and upper band with various confidence levels will be possible. Finally, an illustrative case study presented demonstrating the proposed model can be efficiently applied through real case software projects.

Suggested Citation

  • Scheljert Denas, 2015. "Risk Analysis Using Earned Value: An Engineering Project Management Study," International Journal of Risk and Contingency Management (IJRCM), IGI Global, vol. 4(3), pages 22-33, July.
    • Handle: RePEc:igg:jrcm00:v:4:y:2015:i:3:p:22-33
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