Modern Project Management: A New Forecasting Model to Ensure Project Success

Author

Attarzadeh, Iman ; Hock, Ow Siew

Author_Institution

Dept. of Software Eng., Univ. of Malaya, Kuala Lumpur, Malaysia

fYear

2009

fDate

3-5 April 2009

Firstpage

426

Lastpage

430

Abstract

This paper presents a new forecasting model to ensure project success. This new model is based on improvement on earned value (EV) method. This model improves earned value management system (EVMS) and forecasting time and cost for projects. These method use established consists of four variables: scheduled performance index (SPI), cost performance index (CPI), cost variance (CV), schedule variance (SV). The model has been validated by a simulation study using a progress generator a new software. This software was developed in Visual Studio 2008 - Visual Basic .NET 2008 and Microsoft Office Project 2007 and it included some basic assumptions and data were generated day by day randomly. The results show a strong relationship between response variable and above four predictors. Therefore, it can be concluded that the model could be used in a wide range of projects for EAC estimation.

Keywords

costing; economic forecasting; estimation theory; performance index; project management; scheduling; statistical analysis; CPI; CV; EAC estimation; EVMS; Microsoft Office Project 2007; SPI; SV; Visual Basic .NET 2008; Visual Studio 2008; cost performance index; cost variance; earned value management system; earned value method; estimate-at-completion method; modern project management; project cost forecasting; project success forecasting model; project time forecasting; schedule variance; scheduled performance index; Computer science; Costs; Equations; Performance analysis; Predictive models; Project management; Scheduling; Software engineering; Technology forecasting; Terminology; Cost Performance Index; Earned Value; Performance Management; Schedule Performance Index; Time and Cost forecasting;

fLanguage

English

Publisher

ieee

Conference_Titel

Future Computer and Communication, 2009. ICFCC 2009. International Conference on

Conference_Location

Kuala Lumpar

Print_ISBN

978-0-7695-3591-3

Type

conf

DOI

10.1109/ICFCC.2009.69

Filename

5189819