Novel Quality-Embedded Earned Value Performance Analysis Tool for Sustainable Project Portfolio Production

Abstract

Although many project portfolio management tools have been developed, little has been found capable of evaluating and managing project quality, cost, and schedule simultaneously. Limited cross-project references also limit lessons learned in the context of triple constraints. This study aims to embed quality check into the earned value management (EVM) method and develop an extended tool for triple constraint management based on EVM. The purpose is to evaluate and manage the triple constraints of a project in one go, incorporating quality management and portfolio management functions into costing and scheduling. The newly developed tools are tested and validated in real-world case studies. It was proven to assist project portfolio stakeholders in triple constraints planning, organizing, monitoring, managing, and reporting using a single reporting format.