A new forecasting model to improve earned value index to achieve an accurate project time and cost estimation

Attarzadeh, I.; Hock, O.S. (2009) A new forecasting model to improve earned value index to achieve an accurate project time and cost estimation. In: International Conference on Information Management and Engineering, APR 03-05, 2009 , Kuala Lumpur, MALAYSIA.

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Abstract

This paper presents a new forecasting model to improve Earned Value (EV) method of projects. This method improves earned value management system (EVMS) and forecasting time and cost for projects. These method use established consists of four variables: Scheduled Performance Index (SPI), Cost Performance Index (CPI), Cost Variance (CV), Schedule Variance (SV). The model has been validated by a simulation study using a progress generator a new software. This software was developed in Visual Studio 2008 - Visual Basic NET 2008 and Microsoft Office Project 2007 and it included some basic assumptions and data were generated day by day randomly. The results show a strong relationship between response variable and above four predictors. Therefore, it can be concluded that the model could be used in a wide range of projects for EAC estimation.

Item Type: Conference or Workshop Item (Paper)
Creators:
  1. Attarzadeh, I.(University of Malaya)
  2. Hock, O.S.(University of Malaya)
Additional Information: Univ Malaya, Fac Comp Sci & Informat Technol, Dept Software Engn, Kuala Lumpur 50603, Malaysia
Uncontrolled Keywords: Earned Value; Performance Management; Time and Cost Forecasting; Schedule Performance Index; Cost Performance Index
Subjects: Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Divisions: Faculty of Computer Science & Information Technology
Depositing User: Mr. Faizal Hamzah
Date Deposited: 23 Nov 2011 09:06
Last Modified: 23 Nov 2011 09:06
URI: http://eprints.um.edu.my/id/eprint/2284

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