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Analytical Model Implementing Objectives in EVM for Advanced Project Control

In: Advanced Business Analytics

Author

Listed:
  • José Ignacio Muñoz-Hernández

    (University of Castilla-La Mancha (INEI-UCLM))

  • José Ramón Otegi-Olaso

    (University of Basque Country)

  • Julen Rubio-Gómez

    (Dresser-Rand Inc.)

Abstract

Business development requires technologically reliable products developed through excellence in project management. This excellence is obtained with advanced project control that should include Earned Value Management (EVM) methodology and project objectives accomplishment orientation. In this work, an analytical model to implement the project objectives control with the EVM is presented. The objectives are periodically measured along the project life with their weights and impact at the end of the project, and then, affecting to the earned value. This provides early indications not only of the project progress but also of the project objectives accomplishment, and highlights the possible need for corrective actions. The analytical model also considers the forecasting of the objectives and their limits at project completion. The model is applied to a case study of engineering product development focusing on getting technical objectives. The generality of the model permits to apply it to any type of project, small or large, in any industry and with any kind of objectives either technical, commercial, economic, etc.

Suggested Citation

  • José Ignacio Muñoz-Hernández & José Ramón Otegi-Olaso & Julen Rubio-Gómez, 2015. "Analytical Model Implementing Objectives in EVM for Advanced Project Control," Springer Books, in: Fausto Pedro García Márquez & Benjamin Lev (ed.), Advanced Business Analytics, edition 127, pages 143-163, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-11415-6_7
    DOI: 10.1007/978-3-319-11415-6_7
    as

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