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dc.contributor.authorColin, Jeroen
dc.contributor.authorVanhoucke, Mario
dc.date.accessioned2017-12-02T14:52:52Z
dc.date.available2017-12-02T14:52:52Z
dc.date.issued2014
dc.identifier.doi10.1016/j.omega.2014.06.001
dc.identifier.urihttp://hdl.handle.net/20.500.12127/5019
dc.description.abstractProject control has been a research topic since decades that attracts both academics and practitioners. Project control systems indicate the direction of change in preliminary planning variables compared with actual performance. In case their current project performance deviates from the planned performance, a warning is indicated by the system in order to take corrective actions. Earned value management/earned schedule (EVM/ES) systems have played a central role in project control, and provide straightforward key performance metrics that measure the deviations between planned and actual performance in terms of time and cost. In this paper, a new statistical project control procedure sets tolerance limits to improve the discriminative power between progress situations that are either statistically likely or less likely to occur under the project baseline schedule. In this research, the tolerance limits are derived from subjective estimates for the activity durations of the project. Using the existing and commonly known EVM/ES metrics, the resulting project control charts will have an improved ability to trigger actions when variation in a project׳s progress exceeds certain predefined thresholds A computational experiment has been set up to test the ability of these statistical project control charts to discriminate between variations that are either acceptable or unacceptable in the duration of the individual activities. The computational experiments compare the use of statistical tolerance limits with traditional earned value management thresholds and validate their power to report warning signals when projects tend to deviate significantly from the baseline schedule.
dc.language.isoen
dc.subjectProject Management
dc.subjectScheduling
dc.subjectRisk
dc.subjectSimulation
dc.titleSetting tolerance limits for statistical project control using earned value management
dc.identifier.journalOmega - International Journal of Management Science
dc.source.volume49
dc.source.issueDecember
dc.source.beginpage107
dc.source.endpage122
dc.contributor.departmentFaculty of Economics and Business Administration, Ghent University, Tweekerkenstraat 2, 9000 Gent, Belgium
dc.contributor.departmentDepartment of Management Science and Innovation, University College London, Gower Street, London WC1E 6BT, United Kingdom
vlerick.knowledgedomainOperations & Supply Chain Management
vlerick.typearticleVlerick strategic journal article
vlerick.vlerickdepartmentTOM
dc.identifier.vperid144496
dc.identifier.vperid58614
dc.identifier.vpubid6225


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