Research On Risk Control In Earned Value Project Management

The Earned Value method of modern project management body of knowledge is originated from the"Cost/Schedule Control System Criteria", which was put forward by the Department of Defense (DOD) of USA in 1967. The cost and schedule of project are integrated by this method. Compared with the traditional method of project management, Earned Value method is a practical way, but it also has a certain limit ion.The basic principle of earned value is introduced in this paper and the contents of project risk management are also included. Based on analyzing of merits and shortcomings about Earned Value and risk management, it is likely to integrate them. The paper has a hot talk about the method of calculating the Earned Value indexes when the schedule of activity is fixed. The answers of Earned Value indexes to one project are given in this paper. After analysis the characteristics of answers, the paper discuss the risk control in Earned Value project management. The bound of SPI and CPI to one project are calculated, which are very important in project control, such as cost control, schedule control and quality control. Lastly, some measures about integrate Earned Value and risk management are put forward, which is based on the process of Earned Value project management.