Earned value method as a tool of controlling complex engineering projects

Abstract

This paper discusses the difficulty of controlling complex engineering projects with the help of the traditional control tools such as earned value method. The main problem with the controlling engineering projects is that the environment and scope of these projects are various from project to project and the project performance measurement system should adapt and flexibly reflect the variability of the engineering project scope and context. The article is based on the case study of the Russian engineering company that is needed a more flexible project performance measurement system. After the consideration of the limitations of the existing performance measurement methods and tools the authors elaborate the suggestion to improve the adaptability of the traditional earned value method which leads to better control of the engineering projects.