Grey Earned Value Management: Theory and Applications

@article{Mahmoudi2021GreyEV,
  title={Grey Earned Value Management: Theory and Applications},
  author={Amin Mahmoudi and Morteza Bagherpour and S. Javed},
  journal={IEEE Transactions on Engineering Management},
  year={2021},
  volume={68},
  pages={1703-1721}
}
Project stakeholders always investigate possible approaches to monitor project progress closely and further, taking necessary actions during the whole phases of the project in order to manage delays. Earned value management (EVM) is one of the methods, which can forecast the required costs for accomplishment of the project. The data collected from projects undertaken in order to update the master schedule often suffer from a level of uncertainty. Ignoring these uncertainties may even lead to… 

Earned duration management under uncertainty

The results suggest, the EDM-G system is a convenient and reliable system while it does not require sophisticated computations, large datasets, and membership functions, and its execution on a real-life industrial case study confirmed its validity and reliability.

Directed earned value management based on ordered fuzzy numbers

Direct earned value management (DEVM) is introduced in which ordered fuzzy numbers are used to express the so-called uncertainties as well as to capture more information about the trend of the project progress to allow project managers to make informed decisions promptly and at a lower cost.

Earned Value Method (EVM) for Construction Projects: Current Application and Future Projections

The earned value method (EVM) is an internationally known technique for project management that emphasizes the control of project cost performance and duration, thus allowing trends to be identified

A novel model for risk management of outsourced construction projects using decision-making methods: a case study

This is the first time a conceptual model has been proposed to select an appropriate contract for construction projects and the BWM integrated with GRA method has been used to prioritize project contracts based on the potential risks.

INTERPRETIVE STRUCTURAL MODELING IN EARNED VALUE MANAGEMENT

The primary purpose of the current study is introducing a comprehensive approach to identify the relationship among different criteria in Earned Value Management (EVM). EVM is a well-known approach

DISTINGUISHING COEFFICIENT DRIVEN SENSITIVITY ANALYSIS OF GRA MODEL FOR INTELLIGENT DECISIONS: APPLICATION IN PROJECT MANAGEMENT

By tailoring the value of ξ a point can be achieved where the ranking obtained through GRA can be made most comparable to the other MCDM methods.

Project scheduling by incorporating potential quality loss cost in time-cost tradeoff problems

Two new models of project scheduling are introduced by incorporating potential quality loss cost (PQLC) in time–cost tradeoff problems by overcoming the drawbacks of the existing Kim, Khang and Hwang (KKH) model.

Grey Absolute Decision Analysis (GADA) Method for Multiple Criteria Group Decision-Making Under Uncertainty

The overall ranking obtained from the proposed GADA method is acceptable, especially under the uncertain environment where the nature of mutual association between the judgments is not precise, and its adaptability to different scales of measurement makes it significant among the class of MCDM methods.

Grey Best-Worst Method for Multiple Experts Multiple Criteria Decision Making Under Uncertainty

The opinions of decision-makers are collected based on grey linguistic variables and the data retains the grey nature throughout all the decision-making process.

References

SHOWING 1-10 OF 69 REFERENCES

Fuzzy extended earned value management: A novel perspective

This paper attempts to extend the theoretical framework of EVM to evaluate and control the financial performance of project and provide a new estimation of project total cost in presence of uncertainty.

Fuzzy earned value management using L-R fuzzy numbers

This paper has formulated EVM in vagueness environment using L-R fuzzy numbers, which improves applicability of the EVM under real-life and uncertain conditions and leads to better planning and taking more appropriate managerial decisions.

A better project performance prediction model using fuzzy time series and data envelopment analysis

The novel theoretical framework presented in this paper estimates future performance of a project based on the past performance data and can greatly assist project managers in more realistically assessing prospective performance of projects and taking necessary and on-time appropriate actions.

Complete fuzzy scheduling and fuzzy earned value management in construction projects

This paper aims to present a comprehensive proposal for project scheduling and control by applying fuzzy earned value. It goes a step further than the existing literature: in the formulation of the

Designing a control mechanism using earned value analysis: an application to production environment

Earned value analysis is a project performance method which simultaneously presents both cost and schedule performances. The purpose of this paper is to model the uncertainty associated with activity

A novel earned value management model using Z-number

A novel fuzzy earned-value model based on Z-number theory incorporates both the impreciseness of real life conditions and a degree of reliability through considering an expert judgment process to provide a reliable assessment for the progress performance of a project and its 'at completion' cost in an uncertain environment.

A New Group Decision Model Based on Grey-Intuitionistic Fuzzy-ELECTRE and VIKOR for Contractor Assessment Problem

This study introduces a new decision model with multi-criteria analysis by a group of decision makers (DMs) with intuitionistic fuzzy sets (IFSs). The presented model depends on a new integration of
...