New approaches in project performance evaluation techniques
Date
2009
Authors
Bower, D.
Finegan, A.
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Journal article
Citation
International Journal of Managing Projects in Business, 2009; 2(3):435-444
Statement of Responsibility
Douglas C. Bower and Andrew D. Finegan
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Abstract
Purpose: The purpose of this paper is to describe a Doctor of Project Management research study including summary of the literature review, the application of the combination of case study, survey and theory building research methodologies, key research findings and potential areas for future research. Design/methodology/approach: The research investigates the reasons for the limited adoption of earned value management (EVM) as a project performance evaluation technique. It proposes new extensions to this technique that will be beneficial to project management practitioners. The multifaceted research approach incorporates the following elements: a review of previous and current literature on EVM; a survey of project management practitioners on their practices and attitudes towards EVM; analysis of the known challenges of the EVM technique; development of techniques to address and resolve the EVM challenges; consolidation of those techniques into a single framework and implementation model; and validation of that framework and model through multiple methods. Findings: The research confirms that EVM can be greatly enhanced and simplified though three key initiatives: include the cost assurance (i.e. risk transfer) provided by procurement contracts; measure project achievement and progress on the completion of each phase, rather than monthly; and combine the above into a simplified, single model. Originality/value: This paper provides practitioners with an insight into how EVM can be enhanced and applied in project management organisations. In particular, the integrated PAVA technique should be particularly useful to projects using the rolling wave approach, as its recognition of phases provides a framework for short- and long-term planning.
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Copyright Emerald Group Publishing Limited