Earned Value Management Considering Technical Readiness Level and Its Application to New Space Launcher Program

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Earned value management (EVM) is a methodology for monitoring and controlling the performance of a project based on a comparison between planned and actual cost/schedule. This study proposes a concept of hybrid earned value management (H-EVM) that integrates the traditional EVM metrics with information on the technology readiness level. The proposed concept can reflect the progress of a project in a sensitive way and provides short-term perspective complementary to the traditional EVM metrics. A two-dimensional visualization on the cost/schedule status of a project reflecting both of the traditional EVM (long-term perspective) and the proposed H-EVM (short-term perspective) indices is introduced. A case study on the management of a new space launch vehicle development program is conducted to demonstrate the effectiveness of the proposed H-EVM concept, associated metrics, and the visualization technique.
Publisher
KOREAN SOC AERONAUTICAL SPACE SCIENCES
Issue Date
2018-03
Language
English
Article Type
Article
Keywords

TECHNOLOGY READINESS; SYSTEM; COST; ASSESSMENTS; FUTURE

Citation

INTERNATIONAL JOURNAL OF AERONAUTICAL AND SPACE SCIENCES, v.19, no.1, pp.227 - 237

ISSN
2093-274X
DOI
10.1007/s42405-018-0015-5
URI
http://hdl.handle.net/10203/242484
Appears in Collection
AE-Journal Papers(저널논문)
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