A Matrix Model for Effective of Project Management

Samuel Y. Ruan, Yuan-Ho Chen

Abstract


For earned value management (EVM), when an organization attaches nonequal importance to the schedule performance index (SPI) and cost performance index (CPI) of a project, a nonequal-weighted conversion rate between the SPI and CPI is formed. This study employed EVM to integrate SPIs and CPIs to establish a matrix project performance assessment model with a nonequal-weighted conversion rate between the SPI and CPI. This model improves the disadvantages of conventional performance assessment models and enables project managers to simultaneously monitor and control the costs and schedules of their projects. The results provide a practical project performance assessment model for various industries and a basis for developing a project performance assessment information system, thus confirming the practicality and applicability of this study. 


Keywords


Earned Value Management (EVM), Schedule Performance Index (SPI), Cost Performance Index (CPI)

Full Text:

PDF

References


Anbari, F. T. (2003). Earned value project management method and extensions. Project management journal, 34(4), 12-23.

Bagherpour, M , Zareei, A , Noori, S and Heydari, M (2010), Designing a control mechanism using earned value analysis: an application to production environment, International Journal of Advanced Manufacturing Technology, 49 , pp. 419-429.

Christensen, D.S. (1998), The costs and benefits of the earned value management process, Acquisition Review Quarterly, Fall, pp. 373–386.

Fleming, Q.W. and Koppelman, J.M. (2005), Earned Value Project Management (3rd Edition)Project Management Institute, Newtown Square, PA.

Lipke, W., Zwikael, O., Henderson, K. and Anbari, F. (2009), Prediction of project outcome The application of statistical methods to earned value management and earned schedule performance indexes, International Journal of Project Management, 27(4), pp.400-407.

Naeni, L.M. , Shadrokh, S. and Salehipour, A. (2011), A fuzzy approach for the earned value management, International Journal of Project Management , 29(6), pp. 764-772 .

Pajares, J., & Lopez-Paredes, A. (2011). An extension of the EVM analysis for project monitoring: The Cost Control Index and the Schedule Control Index. International Journal of Project Management, 29(5), 615-621.




DOI: https://doi.org/10.24203/ajbm.v5i2.4574

Refbacks

  • There are currently no refbacks.


Copyright (c) 2017 Asian Journal of Business and Management

Creative Commons License
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.