An Evidential Reasoning Approach for the Earned Value Management


Department of Industrial Engineering, Kharazmi University, Mofatteh Ave., Tehran, Iran


The earned Value Management (EVM) is a project management technique used to measure project progress by integrating management efficiently of the three most important elements in a project; cost, schedule and scope. This paper presents an evidential reasoning (ER) based model for estimating the Earned Value (EV) of the projects activities with uncertainties in progress data. Since that subjective nature of EV measurement can incorporate into errors and uncertainties which cause biased judgments; and as the uncertainty is inherent in real-life activities, the developed ER based model is very useful to evaluate the EV of a project where uncertainty arises. A case study is provided to illustrate how the new model will be used and can be implemented in reality.