Project planning and predictive Earned Value analysis via simulation

A simulation-based Earned Value Management methodology is introduced for modeling and analyzing project networks with stochastic activity times and activity costs. The methodology uses simulation to establish a project plan and estimate the planned value over the life of the project. During project execution, these reference measures can be used to determine if the project is on track to completion. The simulation tool can be used to evaluate potential alternatives and predict their impact on the project.