Earned Value Management Considering Technical Readiness Level and Its Application to New Space Launcher Program
Earned value management (EVM) is a methodology for monitoring and controlling the performance of a project based on a comparison between planned and actual cost/schedule. This study proposes a concept of hybrid earned value management (H-EVM) that integrates the traditional EVM metrics with informat...
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Veröffentlicht in: | International journal of aeronautical and space sciences 2018, 19(1), , pp.227-237 |
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Hauptverfasser: | , |
Format: | Artikel |
Sprache: | eng |
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Zusammenfassung: | Earned value management (EVM) is a methodology for monitoring and controlling the performance of a project based on a comparison between planned and actual cost/schedule. This study proposes a concept of hybrid earned value management (H-EVM) that integrates the traditional EVM metrics with information on the technology readiness level. The proposed concept can reflect the progress of a project in a sensitive way and provides short-term perspective complementary to the traditional EVM metrics. A two-dimensional visualization on the cost/schedule status of a project reflecting both of the traditional EVM (long-term perspective) and the proposed H-EVM (short-term perspective) indices is introduced. A case study on the management of a new space launch vehicle development program is conducted to demonstrate the effectiveness of the proposed H-EVM concept, associated metrics, and the visualization technique. |
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ISSN: | 2093-274X 2093-2480 |
DOI: | 10.1007/s42405-018-0015-5 |