Estimation of Project Performance Using Earned Value Management and Fuzzy Regression

Earned Value Management is a critical project management methodology that evaluates project performance from cost and schedule viewpoints. The novel theoretical framework presented in this paper estimates future performance of project regarding the past relative information. It benefits from fuzzy regression (FR) models in estimation process in order to deal with the vagueness and impreciseness of real data. Furthermore, fuzzy-based estimation is evaluated using linguistic terms to interpret different possible condition of projects. The proposed model can greatly assists project managers to assess prospective performance of project and alerts them in taking of necessary actions. Finally, one illustrative case associated with a construction project has been provided to illustrate the applicability of theoretical model in real situations.