RT info:eu-repo/semantics/article
T1 A new approach for project control under uncertainty. Going back to the basics
A1 Acebes Senovilla, Fernando
A1 Pajares Gutiérrez, Javier
A1 Galán Ordax, José Manuél
A1 López Paredes, Adolfo
K1 Project Management; Earned Value Management; Project control; Monte Carlo simulation; Project risk management
AB In this paper we propose a new methodology for project control under uncertainty. In particular, we integrate Earned Value Methodology (EVM) with project risk analysis. The methodology helps project managers to know whether the project deviations from planned values are within the “expected” deviations derived from activity planned variability. Although the methodology is new and innovative, we only go back to the fundamentals of project simulation to generate the “universe” of possible projects, according to the assumed variability of project activities. Then we organize and gather the information in order to make the data coherent with EVM. We explain the steps to implement the methodology and we show three case studies. The methodology makes explicit that the schedule and budget resulting from traditional methods like PERT are statistically very optimistic.
PB Elsevier
SN 0263-7863
YR 2014
FD 2014
LK https://uvadoc.uva.es/handle/10324/64894
UL https://uvadoc.uva.es/handle/10324/64894
LA spa
NO International Journal of Project Management, April 2014, 32 (3), 423-434
NO Producción Científica
DS UVaDOC
RD 07-ago-2024