Measuring Time Improving Project Performance Using Earned Value Mana
Meant to complement rather than compete with the existing books on the subject, this book deals with the project performance and control phases of the project life cycle to present a detailed investigation of the project’s time performance measuremen
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International Series in Operations Research & Management Science
Volume 136
For other titles published in this series, go to www.springer.com/series/6161
Mario Vanhoucke
Measuring Time Improving Project Performance Using Earned Value Management
Mario Vanhoucke Fac. Economics & Business Administration Ghent University Tweekerkenstraat 2 9000 Gent Belgium Vlerick Leuven Gent Management School Reep 1 9000 Gent Belgium [email protected]
ISBN 978-1-4419-1013-4 e-ISBN 978-1-4419-1014-1 DOI 10.1007/978-1-4419-1014-1 Springer Dordrecht Heidelberg London New York Library of Congress Control Number: 2009931558 © Springer Science+Business Media, LLC 2009 All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, LLC, 233 Spring Street, New York, NY 10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights.
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The only reason for time is so that everything doesn’t happen at once. Albert Einstein
Preface
Project scheduling began as a research track within the mathematical field of Operations Research in order to mathematically determine start and finish times of project activities subject to precedence and resource constraints while optimizing a certain project objective (such as lead-time minimization, cash-flow optimization, etc.). The initial research done in the late 1950s mainly focused on network based techniques such as CPM (Critical Path Method) and PERT (Programme Evaluation and Review Technique) which are still widely recognized as important project management tools and techniques. From this moment on, a substantial amount of research has been carried out covering various areas of project scheduling (e.g. time scheduling, resource scheduling, cost scheduling). Today the project scheduling research continues to grow in the variety of its theoretical models, in its magnitude and in its application. While the research has expanded over the last decennia, leading to project scheduling models with deterministic and stochastic characteristics, single- and multi-mode execution activities, single and multiple objectives, and a wide variety of resource assumptions, the practitioners and software tools mainly stick with the often basic project scheduling principles. This can probably be explained by the limited capability of a project schedule to cope with the uncertainty that characterizes the real life execution of the project. Indeed, the benefits
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