Articlegold2021

Stochastic Earned Duration Analysis for Project Schedule Management

Fernando Acebes · David J. Poza · José Manuel González-Varona · Adolfo López‐Paredes

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Construction Project Management and Performance Resource-Constrained Project Scheduling Economic and Technological Systems Analysis

Abstract

Earned duration management (EDM) is a methodology for project schedule management (PSM) that can be considered an alternative to earned value management (EVM). EDM provides an estimation of deviations in schedule and a final project duration estimation. There is a key difference between EDM and EVM: In EDM, the value of activities is expressed as work periods; whereas in EVM, value is expressed in terms of cost. In this paper, we present how EDM can be applied to monitor and control stochastic projects. To explain the methodology, we use a real case study with a project that presents a high level of uncertainty and activities with random durations. We analyze the usability of this approach according to the activities network topology and compare the EVM and earned schedule methodology (ESM) for PSM.

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References

1965Fuzzy sets 2004A guide to the project management body of knowledge (PMBOK guide)2003Earned value in project management 2003Earned Value Project Management Method and Extensions 2011Grey Systems: Theory and Applications 2014A review of analytical models, approaches and decision support tools in project monitoring and control 2003A model for effective implementation of Earned Value Management methodology 2006A simulation and evaluation of earned value metrics to forecast the project duration

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2022A Systematic Review of Earned Value Management Methods for Monitoring and Control of Project Schedule Performance: An AHP Approach

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