A New Version of Earned Value Analysis for Mega Projects Under Interval-valued Fuzzy Environment

Abstract

The earned value technique is a crucial and important technique in analysis and control the performance and progress of mega projects by integrating three elements of them, i.e., time, cost and scope. This paper proposes a new version of earned value analysis (EVA) to handle uncertainty in mega projects under interval-valued fuzzy (IVF)-environment. Considering that uncertainty is very common in mega projects’ activities, the proposed IVF-EVA model is very useful and applicable in evaluating the progress of projects. In this paper, analyzing earned value indices and calculating them with linguistic terms have been discussed. They are then converted into interval-valued fuzzy numbers (IVFNs) for the evaluations. Finally, an application example from the recent literature is presented and steps of the proposed IVF-EVA are elaborated.<br />The earned value technique is a crucial and important technique in analysis and control the performance and progress of mega projects by integrating three elements of them, i.e., time, cost and scope. This paper proposes a new version of earned value analysis (EVA) to handle uncertainty in mega projects under interval-valued fuzzy (IVF)-environment. Considering that uncertainty is very common in mega projects’ activities, the proposed IVF-EVA model is very useful and applicable in evaluating the progress of projects. In this paper, analyzing earned value indices and calculating them with linguistic terms have been discussed. They are then converted into interval-valued fuzzy numbers (IVFNs) for the evaluations. Finally, an application example from the recent literature is presented and steps of the proposed IVF-EVA are elaborated.