A fuzzy approach for the earned value management

The earned value technique is a crucial technique in analyzing and controlling the performance of a project which allows a more accurate measurement of both the performance and the progress of a project. This paper presents a new fuzzy-based earned value model with the advantage of developing and analyzing the earned value indices, and the time and the cost estimates at completion under uncertainty. As the uncertainty is inherent in real-life activities, the developed model is very useful in evaluating the progress of a project where uncertainty arises. A small example illustrates how the new model can be implemented in reality. (c) 2010 Elsevier Ltd. and IPMA. All rights reserved.