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Monitoring project duration and cost in a construction project by applying statistical quality control charts
, Article International Journal of Project Management ; Volume 31, Issue 3 , April , 2013 , Pages 411-423 ; 02637863 (ISSN) ; Moslemi Naeni, L ; Salehipour, A ; Sharif University of Technology
2013
Abstract
The earned value is a leading technique in monitoring and analyzing project performance and project progress. Although, it allows exact measurement of project progress, and can uncover any time and cost deviations from the plan, its capability in reporting accepted level of deviation is not well studied. This study presented an approach to overcome this limitation by applying statistical quality control charts to monitor earned value indices. For this purpose, project time and cost performance indices of a real construction project were monitored regularly on individual control charts. The results were quite promising, and not only competed well against traditional approaches, but also...