A novel earned value management model using Z-number. (1st January 2014)

• Record Type: Journal Article
• Authors: Salari, Mostafa; Bagherpour, Morteza; Wang, John
• Is Part Of: International journal of applied decision sciences. Volume 7:Number 1(2014)
• Page Start: 97
• Page End: 119
• Publication Date: 2014-01-01
• Subjects: earned value -- cost control -- estimation process -- Z-number -- applied decision; Decision making -- Periodicals; Management science -- Periodicals; 658.403005
• Languages: English
• ISSNs: 1755-8077

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.