Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast
All projects take place within a context of uncertainty. That is especially noticeable in complex hydroelectric power generation projects, which are affected by factors such as the large number of multidisciplinary tasks to be performed in parallel, long execution times, or the risks inherent in var...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley
2019-01-01
|
| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2019/3190830 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1850222062868627456 |
|---|---|
| author | P. Urgilés J. Claver M. A. Sebastián |
| author_facet | P. Urgilés J. Claver M. A. Sebastián |
| author_sort | P. Urgilés |
| collection | DOAJ |
| description | All projects take place within a context of uncertainty. That is especially noticeable in complex hydroelectric power generation projects, which are affected by factors such as the large number of multidisciplinary tasks to be performed in parallel, long execution times, or the risks inherent in various fields like geology, hydrology, and structural, electrical, and mechanical engineering, among others. Such factors often lead to cost overruns and delays in projects of this type. This paper analyzes the efficiency of the Earned Value Management technique and its Earned Schedule extension, as means of forecasting costs and deadlines when applied to complex hydroelectric power production projects. It is worth noting that this analysis was based on simulation models applied to real-life projects. The results showed that cost forecasting becomes very accurate over time, whereas duration forecasting is not reliably accurate. |
| format | Article |
| id | doaj-art-6e670dde9d904ddcaaf025b98a597bb8 |
| institution | OA Journals |
| issn | 1076-2787 1099-0526 |
| language | English |
| publishDate | 2019-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Complexity |
| spelling | doaj-art-6e670dde9d904ddcaaf025b98a597bb82025-08-20T02:06:28ZengWileyComplexity1076-27871099-05262019-01-01201910.1155/2019/31908303190830Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time ForecastP. Urgilés0J. Claver1M. A. Sebastián2Department of Construction and Manufacturing Engineering, National University of Distance Education (UNED), C/Juan del Rosal 12, 28040 Madrid, SpainDepartment of Construction and Manufacturing Engineering, National University of Distance Education (UNED), C/Juan del Rosal 12, 28040 Madrid, SpainDepartment of Construction and Manufacturing Engineering, National University of Distance Education (UNED), C/Juan del Rosal 12, 28040 Madrid, SpainAll projects take place within a context of uncertainty. That is especially noticeable in complex hydroelectric power generation projects, which are affected by factors such as the large number of multidisciplinary tasks to be performed in parallel, long execution times, or the risks inherent in various fields like geology, hydrology, and structural, electrical, and mechanical engineering, among others. Such factors often lead to cost overruns and delays in projects of this type. This paper analyzes the efficiency of the Earned Value Management technique and its Earned Schedule extension, as means of forecasting costs and deadlines when applied to complex hydroelectric power production projects. It is worth noting that this analysis was based on simulation models applied to real-life projects. The results showed that cost forecasting becomes very accurate over time, whereas duration forecasting is not reliably accurate.http://dx.doi.org/10.1155/2019/3190830 |
| spellingShingle | P. Urgilés J. Claver M. A. Sebastián Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast Complexity |
| title | Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast |
| title_full | Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast |
| title_fullStr | Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast |
| title_full_unstemmed | Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast |
| title_short | Analysis of the Earned Value Management and Earned Schedule Techniques in Complex Hydroelectric Power Production Projects: Cost and Time Forecast |
| title_sort | analysis of the earned value management and earned schedule techniques in complex hydroelectric power production projects cost and time forecast |
| url | http://dx.doi.org/10.1155/2019/3190830 |
| work_keys_str_mv | AT purgiles analysisoftheearnedvaluemanagementandearnedscheduletechniquesincomplexhydroelectricpowerproductionprojectscostandtimeforecast AT jclaver analysisoftheearnedvaluemanagementandearnedscheduletechniquesincomplexhydroelectricpowerproductionprojectscostandtimeforecast AT masebastian analysisoftheearnedvaluemanagementandearnedscheduletechniquesincomplexhydroelectricpowerproductionprojectscostandtimeforecast |