Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration Management
Earned Duration Management (EDM) method has been developed to enhance Earned Value Management and to solve some of its problems, such as separation of measuring time and cost dimensions. By providing performance indicators, this method makes it possible for managers to accurately measure the progres...
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| Format: | Article |
| Language: | fas |
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Institute for Management & Planning Studies
2019-06-01
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| Series: | فرایند مدیریت و توسعه |
| Subjects: | |
| Online Access: | http://jmdp.ir/article-1-2794-en.pdf |
| _version_ | 1797450766032568320 |
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| author | Akbar Alam-Tabriz Farnoosh Khaledian Mostafa Mahdipour |
| author_facet | Akbar Alam-Tabriz Farnoosh Khaledian Mostafa Mahdipour |
| author_sort | Akbar Alam-Tabriz |
| collection | DOAJ |
| description | Earned Duration Management (EDM) method has been developed to enhance Earned Value Management and to solve some of its problems, such as separation of measuring time and cost dimensions. By providing performance indicators, this method makes it possible for managers to accurately measure the progress of a project and to calculate the time and cost required to complete it. Nevertheless, the accepted rate of progress indexes of a project is not specified in this method, which brings about ambiguity. Intending to improve earned duration management performance, statistical quality control charts were used, which had previously been applied in Earned Value Management to determine the acceptable cut-off points of indexes of project management. Using Monte Carlo simulation, these charts were calculated at the time of project planning, but not during project implementation. Such calculations give project managers prospective view; in addition, they provide a basis for evaluating and comparing the performance of projects during their progress. |
| first_indexed | 2024-03-09T14:44:22Z |
| format | Article |
| id | doaj.art-44dd1bb6482f45a79276c65d37a3ae10 |
| institution | Directory Open Access Journal |
| issn | 1735-0719 2252-0074 |
| language | fas |
| last_indexed | 2024-03-09T14:44:22Z |
| publishDate | 2019-06-01 |
| publisher | Institute for Management & Planning Studies |
| record_format | Article |
| series | فرایند مدیریت و توسعه |
| spelling | doaj.art-44dd1bb6482f45a79276c65d37a3ae102023-11-27T10:49:35ZfasInstitute for Management & Planning Studiesفرایند مدیریت و توسعه1735-07192252-00742019-06-01321325Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration ManagementAkbar Alam-Tabriz0Farnoosh Khaledian1Mostafa Mahdipour2 Shahid Beheshti University, Tehran, Iran. Islamic Azad University, Science and Research Branch, Tehran, Iran. Amirkabir University of Technology, Tehran, Iran. Earned Duration Management (EDM) method has been developed to enhance Earned Value Management and to solve some of its problems, such as separation of measuring time and cost dimensions. By providing performance indicators, this method makes it possible for managers to accurately measure the progress of a project and to calculate the time and cost required to complete it. Nevertheless, the accepted rate of progress indexes of a project is not specified in this method, which brings about ambiguity. Intending to improve earned duration management performance, statistical quality control charts were used, which had previously been applied in Earned Value Management to determine the acceptable cut-off points of indexes of project management. Using Monte Carlo simulation, these charts were calculated at the time of project planning, but not during project implementation. Such calculations give project managers prospective view; in addition, they provide a basis for evaluating and comparing the performance of projects during their progress.http://jmdp.ir/article-1-2794-en.pdfproject managementearned duration managementmonte carlo simulationstatistical quality controlcontrol limits. |
| spellingShingle | Akbar Alam-Tabriz Farnoosh Khaledian Mostafa Mahdipour Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration Management فرایند مدیریت و توسعه project management earned duration management monte carlo simulation statistical quality control control limits. |
| title | Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration Management |
| title_full | Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration Management |
| title_fullStr | Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration Management |
| title_full_unstemmed | Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration Management |
| title_short | Establishing Control Limits on Time Performance Indicators of Projects through Monte Carlo Simulation and Earned Duration Management |
| title_sort | establishing control limits on time performance indicators of projects through monte carlo simulation and earned duration management |
| topic | project management earned duration management monte carlo simulation statistical quality control control limits. |
| url | http://jmdp.ir/article-1-2794-en.pdf |
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