EDM: Earned Duration Management a Novel Approach
The concept of schedule monitoring and control as one of the most important functions of project and program management has not been fully exploited. One possible explanation could be the dominance of the Earned Value Management System (EVMS, also known as EVM). EVM was originally developed as a cost management and control tool which was extended to track the schedule as well. EVM and its derivatives (e.g. Earned Schedule) use cost as a proxy to measure schedule performance to control the duration of the project. While there is a correlation between schedule, cost, quality, and scope of a project, using cost to control duration has proven to be misleading. In contrast to Earned Value and Earned Schedule, the authors have developed the Earned Duration Management (EDM) in which they have decoupled schedule and cost performance measures and developed a number of indices to measure progress and performance of schedule and cost, as well as the efficacy and efficiency of the plan at any level of the project. These new indices are easy to understand, have wider applications, and can be used by contractors, clients and the scheduling offices to assess and measure schedule performance. The newly developed duration performance measures are all schedule-based and can be used for forecasting the finish date of the project
The learning objectives of the session, mainly focused on duration/schedule control, are:
- To introduce the participants to the newly developed concept of EDM
- To demonstrate the use of EDM in contrast to EVM for controlling schedule
- To learn about a number of newly developed schedule management indices
- To learn about the use of performance estimation indices and lessons learned
Homayoun Khamooshi is an Assistant Professor in the Department of Decision Sciences at the School of Business of the George Washington Universtiy (GWU). He is the chair of internationally known Master of Science in Project Management. Dr. Khamooshi earned his Ph.D. in Management Science (Project Management: Planning and Scheduling) from Lancaster University in 1994 in the United Kingdom, his Master of Engineering in Industrial Engineering and Management from Asian Institute of Technology (AIT) in 1979 in Thailand and a B.Eng. in Mechanical Engineering from Abadan Institute of Technology, Abadan, Iran in 1975.
Dr. Khamooshi has worked more than a decade in Oil, Gas and Petrochemical Industries prior to pursuing his Ph.D. at Lancatser. His industrial experience include working as project engineer, project manager, consultant and Management Science practitioner and trainer within multiple industries including automobile, steel, oil, gas and petrochemical. Prior to joining the GWU in 2003, he worked for the University of Northampton (United Kingdom) for more than a decade.
Dr. Khamooshi has served as a reviewer and is a member of editorial board of a number of academic and professional journals including, International Journal of Project Management (IJPM), Project Management Journal (PMJ), Journal of Operational Research Society (JORS), Journal of Construction Engineering and Management(JCEM) of ASCE(American Society of Construction Engineering).
Dr. Khamooshi has consulted many public and private organizations and conducted numerous executive education and training programs worldwide including courses for I2P2M, India, NIH US, SAIC US, Mc. Dean US, FGV Barzil, L&T India, NIOC Iran, NIPC Iran and others.
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