Application of Earned Value Method in Project Cost Management and Schedule Management

At present,with the rapid development of China's economy,the development of the construction industry has made a new breakthrough.Project management requires the construction industry to continuously play its role and value in improving the ability of project management.Earned value method,which is an important way in the field of project management,enables whole project management to rise to a new height.The specific principle of earned value method will be elaborated by fully introducing the specific role of earned value method in engineering projects to provide a reference and basis for practitioners to improve their management ability.

Application Research of Earned Value Management in New Drug Research and Development Projects

Objective To help investors assess and control the costs of new drug development and reduce the risks of new drug development projects.Methods Cost analysis and financial forecasting were carried out with the integrated approach of earned value management.According to the principle of earned value management deviation analysis,the basic process of the new drug research and development project was combined with the hypothesis method from the research of Tufts Drug Development Research Center.Results and Conclusion If the project progress check was carried out in the clinical trial,the project costs were found overspent,the efficiency was low,the project progress was faster,and the resource investment was ahead.It is recommended that the adjustment should be made to reduce the input of resources,and increase the efficient key personnel to take the place of some less efficient staff.

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 fuzzy earned value we consider not only its duration,but also cost and production,and alternatives in the scheduling between the earliest and latest times.The mathematical model is implemented in a prototypical construction project with all the estimated values taken as fuzzy numbers.Our findings suggest that different possible schedules and the fuzzy arithmetic provide more objective results in uncertain environments than the traditional methodology.The proposed model allows for controlling the vagueness of the environment through the adjustment of the α-cut,adapting it to the specific circumstances of the project.

Stochastic Earned Duration Analysis for Project Schedule Management

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 devia-tions 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 pro-jects.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.

A Study of Quantitative Progress Evaluation Models for Open Source Projects

Open source software (OSS) has become an indispensable part of society, not only for personal use but also for corporate use. Projects developed and operated by OSS are called open source projects, and the number of such projects is increasing. On the other hand, because anyone can participate in an open source project, the progress of the project is uncertain due to differences in project members’ skills, development environments, and time zones of activity. Therefore, many users and companies need to understand the development and operation status of open source project. Then, the developers carefully make decisions on upgrading or installing new OSS. In this paper, we focus on the maintenance effort estimation for open source projects considering uncertainty. Also, we evaluate the project quantitatively using Earned Value Management (EVM). Moreover, we examine the appropriateness of the model for predicting the maintenance effort expeditures. Furthermore, we discuss the appropriateness of this EVM method.

The Innovation Research of Financial Early-Warning Index Measurement

The period economic fluctuation is vital for an enterprise to exist and further develop, it directly affect the enterprise financial health. So, it is significant to build up financial early-warning index and measure the warning condition that the enterprise faces and take the effective measures to eliminate. We criticize Altman’sZ calculating model and build up some new indexes for enterprise financial early-warning condition measuring and making sound decision.

PROJECT REGULARITY： DEVELOPMENT AND EVALUATION OF A NEW PROJECT CHARACTERISTIC

The ability to accurately characterize projects novel project characteristic is developed characteristic, called project regularity, is essential to good project management. Therefore, a reflects the value accrue within a project. This expressed in terms of the newly introduced regular/irregular-indicator RI. The widely accepted management system of earned value management （EVM） forms the basis for evaluation of the new characteristic. More concretely, the influence of project regularity on EVMforecasting accuracy is assessed, and is shown to be significant for both time and cost forecasting. Moreover, this effect appears to be stronger than that of the widely used characteristic of project seriality expressed by the serial/parallel-indicator SP. Therefore, project regularity could also be useful as an input parameter for project network generators. Furthermore, the introduction of project regularity can provide project managers with a more accurate indication of the time and cost forecasting accuracy that is to be expected for a certain project and, correspondingly, of how a project should be built up in order to obtain more reliable forecasts during project control.

Development of a BIM-based production planning and control system for Lean Construction through advancement and integration of existing management techniques

As part of general construction management,production planning and control is vital for successful project delivery.Numerous approaches supporting production planning and control exist in practice and research.However,the different approaches focus on distinct areas such as workflow stabilization or cost control,and no single system combines all the requirements of a holistic production management system.Varying production management systems can be explained by the unique characteristics of many construction projects.As an approach for the digital twinning in the construction industry,building information modeling(BIM)can help standardize production management through shifting the management system design toward the digital prototype.Previous scientific work has acknowledged this approach,thereby generating numerous concepts for using building information models within construction management approaches.However,BIM is often merely used as a parallel support rather than as an integral part of production management systems.To address this gap and in terms of research methodology,we follow a Design Science Research approach.Thus,we propose a new BIM-based production management system,which is characterized by a theoretical integration model for BIM and existing construction management techniques,and a methodology for applying these concepts in practice.