TY - JOUR
T1 - Forward-Looking State-of-the-Art Review on Earned Value Management Systems
T2 - The Disconnect between Academia and Industry
AU - Aramali, Vartenie
AU - Sanboskani, Hala
AU - Gibson, G. Edward
AU - El Asmar, Mounir
AU - Cho, Namho
N1 - Funding Information: Since the origin of EVM, many guidelines, standards, and recommended practices have been established to successfully implement it across the industry (e.g., DOE 2020; McGregor 2019a, b; PMI 2019a; DOE 2018a, 2019; ISO 2018; NASA 2018a, b; NDIA 2018a, b; AACE 2014a; DCMA 2012). Examples of recognized entities that have published guidelines include the US DoD, the US Department of Energy (DOE), the NDIA, the Defense Contract Management Agency (DCMA), the Project Management Institute (PMI), the ISO, and the National Aeronautics and Space Administration (NASA). Among federal agencies, the US DoD pioneered the concept and has led by example in enforcing the guidelines as policies on major acquisitions. Taken together, these guiding documents are important because complying with them is essential for effective EVM application (DOE 2018b; McNamee et al. 2017; Kester et al. 2015). Publisher Copyright: © 2022 This work is made available under the terms of the Creative Commons Attribution 4.0 International license,.
PY - 2022/5/1
Y1 - 2022/5/1
N2 - Earned value management (EVM) is a project management approach that can enhance the probability of project success. It is applied widely across different industry sectors (e.g., energy, aerospace, construction, defense, and manufacturing), generally through the use of an earned value management system (EVMS). A holistic and up-to-date literature review on EVM and EVMS does not exist. A literature review can provide a comprehensive perspective on the topic, identifying and summarizing the existing body of knowledge, as a foundation to advance the state of practice of EVM/EVMS. Therefore, the objective of this paper is to investigate the EVM/EVMS state of the art by critically reviewing academic and industry publications, with a specific focus on the maturity of EVMS and the environment surrounding its implementation. By performing a systematic literature review, the authors identified 600 publications since the inception of the EVM concept in 1962, and then narrowed down this list to 160 relevant publications from the last decade for closer review. The findings include the discovery of eight emergent themes. Of these themes, "forecasting/prediction"constitutes the largest portion of the recent literature, followed by "application of EVMS."One interesting finding is that EVMS maturity, although being a critical topic, is only discussed in one publication. Publications focused on EVM/EVMS have increased in the last decade and significant differences were found between academia and industry literature in terms of the limitations and extensions of EVM/EVMS, EVMS environment, and compliance. A key finding is that designing a reliable EVMS should combine both technical and social aspects of implementation. This forward-looking paper provides a state-of-the-art review while highlighting gaps in the existing EVM/EVMS body of knowledge and introducing new perspectives to support EVMS research and application.
AB - Earned value management (EVM) is a project management approach that can enhance the probability of project success. It is applied widely across different industry sectors (e.g., energy, aerospace, construction, defense, and manufacturing), generally through the use of an earned value management system (EVMS). A holistic and up-to-date literature review on EVM and EVMS does not exist. A literature review can provide a comprehensive perspective on the topic, identifying and summarizing the existing body of knowledge, as a foundation to advance the state of practice of EVM/EVMS. Therefore, the objective of this paper is to investigate the EVM/EVMS state of the art by critically reviewing academic and industry publications, with a specific focus on the maturity of EVMS and the environment surrounding its implementation. By performing a systematic literature review, the authors identified 600 publications since the inception of the EVM concept in 1962, and then narrowed down this list to 160 relevant publications from the last decade for closer review. The findings include the discovery of eight emergent themes. Of these themes, "forecasting/prediction"constitutes the largest portion of the recent literature, followed by "application of EVMS."One interesting finding is that EVMS maturity, although being a critical topic, is only discussed in one publication. Publications focused on EVM/EVMS have increased in the last decade and significant differences were found between academia and industry literature in terms of the limitations and extensions of EVM/EVMS, EVMS environment, and compliance. A key finding is that designing a reliable EVMS should combine both technical and social aspects of implementation. This forward-looking paper provides a state-of-the-art review while highlighting gaps in the existing EVM/EVMS body of knowledge and introducing new perspectives to support EVMS research and application.
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U2 - 10.1061/(ASCE)ME.1943-5479.0001019
DO - 10.1061/(ASCE)ME.1943-5479.0001019
M3 - Review article
SN - 0742-597X
VL - 38
JO - Journal of Management in Engineering
JF - Journal of Management in Engineering
IS - 3
M1 - 03122001
ER -