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Title: Scheduling simulation-based techniques for earned value management on resource-constrained schedules under delayed scenarios
Authors: Siu, MF 
Lu, M
Issue Date: 2011
Publisher: Institute of Electrical and Electronics Engineers
Source: Winter Simulation Conference. Proceedings, 2011, 6148041, p. 3455-3466 How to cite?
Abstract: Earned value management (EVM) is widely utilized for project progress monitoring and cost control purposes. However, traditional EVM techniques are intended for ideal scheduling scenarios without considering the effect of activity-level and project-level delays. The EVM fails to account for dynamic changes of project status in terms of project time extension and associated cost overrun, potentially generating misleading project performance tracking indicators. This research proposes a refined EVM approach based on discrete event simulation (scheduling simulation) to tackle complicated resource-constrained scheduling. A case study is used to demonstrate its applications on a resource-constrained schedule under postulated delay scenarios. It is found that this approach is conducive to truthfully reflecting the project performance status given a resource-constrained schedule subject to complicated activity-project delay. Conclusions are drawn by recapitulating the research contributions and addressing the limitations in the end.
Description: 2011 Winter Simulation Conference, WSC 2011, Phoenix, United States, 11-14 December 2011
ISBN: 9781457721083
ISSN: 0891-7736
DOI: 10.1109/WSC.2011.6148041
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