Votto, R; Lee Ho, L and Berssaneti, F (2020) Applying and assessing performance of earned duration management control charts for EPC project duration monitoring. Journal of Construction Engineering and Management, 146(3): 04020001, ISSN 0733-9364
Abstract
In this study, earned duration management (EDM) is used as a statistical project control method to monitor the performance of engineering, procurement, and construction (EPC) projects. It represents an extension of the well-known earned value management (EVM) and earned schedule management (ESM) methodologies. In contrast to the latter techniques, which use cost-based data as proxies for assessing the project duration performance, EDM uses time-based metrics for its evaluation. In this method, control charts are employed to monitor deviations during project execution and to identify special sources of variation, interpreted as evidence of real risk of project delays. Monte Carlo simulations are conducted to determine the control limits. The major contribution of this study lies both in the use of control charts with control limits obtained by simulations to monitor the new duration performance index (DPI) in a real EPC project, and in the assessment of its performance compared with that of the traditional EVM and ESM indexes. The results of computational experiments demonstrated generally good performance characteristics of the proposed control charts and suggest that the DPI potentially can be used as a promising metric for monitoring the project duration performance.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | control chart; duration performance index; Monte Carlo simulation; project performance monitoring; statistical process control |
| Index terms: | project delay, variation, methodology, evidence, process control, earned value management, experiment, duration, project control, monitoring, project performance, deviation, Monte Carlo simulation |
| Subjects: | modelling and simulation, financial and cost management, evaluation and assessment methods, data collection methods, control systems, project controls, research methods, contractual condition, project management theory and practice |
| Topics: | Contract Administration, Time Control, Site Management, Engineering Principles, Research Practice, Project Management, Cost Management |
| Descriptive scope: | 5 PCTEA |
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