Accurate schedule performance analysis using Critical Total Float Method and comparison with conventional methods

Abstract

ABSTRACT Project performance researchers appreciate that the EVM (Earned Value Management) is a very good tool to calculate project cost performance. On the other hand, they condemn the EVM which provides inefficient schedule performance indications. To overcome this inefficiency the concept of Earned Schedule was evolved. This concept corrects the fundamental weakness of the EVM concept and proposes the schedule performance indicators which are time based. Even after the evolution of Earned Schedule concept, inefficiency can be noticed in schedule performance indications. The main objective of this technical paper is to propose a new method called as Critical Total Float Method to determine the accurate schedule performance indications and comparing the results with the conventional methods of schedule performance analysis. Schedule variance and Schedule performance index derived using the conventional methods yield false results in many instances.