A novel earned value management model using Z-number

Mostafa Salari, Morteza Bagherpour, John Wang

Research output: Contribution to journalArticle

24 Scopus citations

Abstract

The earned value management (EVM) model is an essential technique for managing and forecasting project features such as scheduling and cost performances indexes. This paper presents a novel fuzzy earned-value model based on Z-number theory incorporating both the impreciseness of real life conditions and a degree of reliability through considering an expert judgment process. The latter factor has not been used by other researchers in the field. The proposed model provides a reliable assessment for the progress performance of a project and its 'at completion' cost in an uncertain environment. Finally, an illustrative case demonstrates the applicability of the proposed model in real life projects.

Original languageEnglish
Pages (from-to)97-119
Number of pages23
JournalInternational Journal of Applied Decision Sciences
Volume7
Issue number1
DOIs
Publication statusPublished - 28 Mar 2014

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Keywords

  • Applied decision
  • Cost control
  • Earned value
  • Estimation process
  • Z-number

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