An Overview of Earned Value Management in Airspace Industry
Earned value management (EVM) is an effective project management approach. This method is used to manage project of different sectors and has been revised to improve its schedule estimates, the Earned Schedule Management and the Earned Duration Management and to include new components as quality, the quality earned value management. This paper explores the EVM methodology and proposes a model to manage projects aerospace engineers based in a real case study. The inputs in the model are the planning and the monitoring of the case study, planned value, earned value and actual cost of aerospace projects.
KeywordsEarned value management Earned schedule management Earned duration management Quality earned value management Planned value Earned value and actual cost Airspace
This paper analyzed an earned value management approach to airspace engineering projects. The main characteristic of the model is the unit used to measure the cost, hours. Using hours as cost unit, the estimate at completion may be used as estimate completion date. Therefore the model provides the time required to complete the project with a cost estimation. And the cost (in hours) converts in monetary unit applying the price of the hour. The different resources (R1, R2,\(\ldots \)) have different prices, these resources are department grouped by skills and competences.
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