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Evaluation of the effect of qualitative variables in forecasting Cost Estimate At Completion of projects
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Mohammad Mahdavi mazdeh *   1, Morteza Bagherpour1 , Azadeh Soofey pour1 |
| 1- Iran University of Science and Technology |
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Abstract: (14063 Views) |
| Accurate forecasting of an ongoing project cost is a major issue in project monitoring. One of the challenges faced by project managers is selection of the most accurate cost Estimate at Completion (EAC) method to improve tracking their projects. To assist in the task, This research considers the effect of some qualitative variables such as delay in payment, weather condition and material availability in the model. Besides, one forecasting algorithm is presented to obtain more accurate solutions.
The model is successfully implemented through a case study.The results for model are shown to be sufficiently reliable for general application of the forecasting method. |
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| Keywords: Cost, Earned Value Management, Estimate At Completion, Performance, Project monitoring, forecasting |
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Full-Text [PDF 262 kb]
(4676 Downloads)
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Type of Study: Applicable |
Subject:
Special
Received: 2012/10/15 | Accepted: 2013/03/3 | Published: 2013/03/3
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