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A novel earned value management model using Z-number

Salari, M ; Sharif University of Technology

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  1. Type of Document: Article
  2. DOI: 10.1504/IJADS.2014.058037
  3. Abstract:
  4. The earned value management (EVM) model is an essential technique for managing and forecasting project features such as scheduling and cost performances indexes. This paper presents a novel fuzzy earned-value model based on Z-number theory incorporating both the impreciseness of real life conditions and a degree of reliability through considering an expert judgment process. The latter factor has not been used by other researchers in the field. The proposed model provides a reliable assessment for the progress performance of a project and its 'at completion' cost in an uncertain environment. Finally, an illustrative case demonstrates the applicability of the proposed model in real life projects
  5. Keywords:
  6. Applied decision ; Cost control ; Earned value ; Estimation process ; Z-number ; Cost controls ; Budget control ; Number theory ; Value engineering
  7. Source: International Journal of Applied Decision Sciences ; Vol. 7, Issue. 1 , 2014 , pp. 97-119 ; ISSN: 17558085
  8. URL: http://www.inderscience.com/info/inarticletoc.php?jcode=ijads&year=2014&vol=7&issue=1