A new formula to "Estimate At Completion" of a Project's time to improve "Earned Value Management System"

This paper presents a new method for estimate at completion (EAC) of project's time to improve earned value management system (EVMS). The new formula established consists of four variables: scheduled performance index (SPI), scheduled percent complete by duration (SPCD), actual percent complete...

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Bibliographic Details
Main Authors: Iranmanesh, H., Mojir, N., Kimiagari, S.
Format: Conference Proceeding
Language:English
Subjects:
Cost Performance Index
Costs
Data envelopment analysis
Earned Value
Econometrics
Economic forecasting
Educational institutions
Engineering management
Estimate At Completion
Libraries
Performance analysis
Project management
Project Performance Management
Regression analysis
Schedule Performance Index
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Description
Summary:This paper presents a new method for estimate at completion (EAC) of project's time to improve earned value management system (EVMS). The new formula established consists of four variables: scheduled performance index (SPI), scheduled percent complete by duration (SPCD), actual percent complete by duration (APCD), and sum of durations to due time (SDDT). The model has been validated by a simulation study using a progress generator program for typical RCPS problem project library. This program was developed in VBA-MSP and it included some basic assumptions and data were generated day by day randomly. The results show a strong linear 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.
ISSN:2157-3611
2157-362X
DOI:10.1109/IEEM.2007.4419345