State Space Modeling of Earned Value Method for Iterative Enhancement Based Traditional Software Projects Tracking

• Published in: Advanced Computing Vol. 1368; pp. 336 - 354
• Main Authors: Tyagi, Manoj Kumar, Sikandar, Ajay, Tyagi, Dheerendra Kumar, Kumar, Durgesh, Singh, Prashant, Munisamy, Srinivasan, Reddy, L. S. S.
• Format: Book Chapter
• Language: English
• Published: Singapore Springer 2021; Springer Singapore
• Series: Communications in Computer and Information Science
• Subjects: Earned value method; Monte-Carlo simulation; Organizational productivity; State-space approach; Team productivity; Traditional software project
• ISBN: 9789811604034; 9811604037
• ISSN: 1865-0929; 1865-0937
• DOI: 10.1007/978-981-16-0404-1_25

The earned value method (EVM) is used as a standard tool for tracking of traditional software projects in order to report their status during execution. However, the status reported by EVM is not reliable as it has a fundamental limitation of not considering the partially completed tasks for the evaluation of the project status. This paper suggests considering the partially completed tasks for the earned value or budgeted cost of work performed (EV) calculation for project status evaluation. The state-space approach is used for modeling EVM, which provides foundation for integrating issues related to partially completed tasks effectively and explicit representation of the project status during planning and execution. The EVM is applied for tracking a project, and the tracking results obtained using Monte-Carlo simulation, with or without considering the partially completed tasks during execution, are presented to show the project’s execution behavior in comparison to planned behavior.