Evaluating fuzzy earned value indices and estimates by applying alpha cuts

The earned value technique is an essential technique in analyzing and controlling the performance of a project by providing a more accurate measurement of both project performance and project progress. This paper presents an approach to deal with fuzzy earned value indices. This includes developing new indices under fuzzy circumstances and evaluating them using alpha cut method. The model improves the applicability of the earned value techniques under real-life and uncertain conditions. A small example illustrates how the new model can be implemented in reality.

Research highlights► The earned value technique is an essential technique in evaluating and monitoring project performance. ► Applying the traditional earned value to projects where their progress cannot be measured exactly and with certainty, might cause inexact monitoring results. ► This paper presents fuzzy earned value techniques. ► This includes developing new fuzzy indices and estimates, and evaluating fuzzy estimates using alpha cut method. ► The model improves the applicability of the earned value techniques under real-life and uncertain conditions.