Earned Schedule min-max: Two new EVM metrics for monitoring and controlling projects

Abstract

[EN] Earned Value Management (EVM) is a well-known project management technique for monitoring project pro-gress. Over the last 15 years, many promising EVM metrics have been proposed to get, among other improve-ments, better actual project duration and cost estimates. Papers comparing the performance of all these metricsare, however, scarce and sometimes contradictory.In this paper, a simulation and empirical comparison of 26 deterministic project duration forecasting tech-niques under the EVM framework is developed. Among them, two new metrics: Earned Schedule min (ESmin) andEarned Schedule max (ESmax) are proposed.ESminandESmaxoffer a new and simpler activity-level calculationapproach of the traditional Earned Schedule metric. Top performing (most accurate) metrics: Earned Schedule(ES), Earned Duration (ED) and Effective Earned Schedule (ES(e)) with Performance Factor 1 (PF= 1), areslightly outperformed by the new metrics which also offer some interesting applications for enhanced projectcontrol.