Abstract
Civil aviation is one of biggest industrial contributors to CO2 emissions worldwide. One of the most urgent problems of this sector is providing new technologies to continue operating in a more sustainable environment through a transition to clean energy. The Earned Value Management (EVM) model, as a traditional project management tool, is continuously being revised with new releases and extensions (e.g., ESM, EDM, QEVM, E-EVM, and ZEVM), but to date none of them has applied an expert judgment criterion to be able to modify and anticipate the final result of the project. In such a way, this paper introduces a novel approach to the topic with the so-called Enhanced and Efficient Earned Value Management (denoted E2-EVM) model by including this new capability through the real options methodology, thus helping to support the sustainability of the aerospace sector. This research focuses on three main goals: the description of recent green initiatives in the aerospace sector by checking its contribution to reaching the well-known Sustainable Development Goals (SDGs), the development of a new version of the EVM model by applying the real options methodology, and, finally, the financial contribution to the aerospace industry by applying these initiatives and methodologies.
Highlights
The 2030 Agenda for Sustainable Development has highlighted the need to propose and finance actions necessary to support the Sustainable Development Goals
According to the Agencia Española de Cooperación Internacional para el Desarrollo [23], the average number of Sustainable Development Goals (SDGs) related to the twenty-one economic sectors is 4.48, whilst there are six SDGs related to the manufacturing sector (SDGs #3, #6, #8, #9, #12, and #17), a figure that is clearly above the mean
We found relevant studies when delving into Information Technologies and Entrepreneurship (#ITE), such as the use of real options to add value in the investment decision process under an uncertainty framework [60]
Summary
The 2030 Agenda for Sustainable Development has highlighted the need to propose and finance actions necessary to support the Sustainable Development Goals (hereinafter, SDGs). The aerospace industry has the chance to invest in the improvement of its manufacturing process, from an environmental perspective, by reducing gas emissions and noise, recycling residuals, etc Nowadays, these actions represent an option for this sector but we hypothesize that investing in environmental care may even increase the economic profitability of companies due to people’s increasing awareness about climate change. The sector would contribute to the transformation of the economic model and would incorporate innovation, digitization, and the use of highly qualified resources according to the plan presented It highlights the digital impulse and services that would have a strong dynamizing effect on the whole sector and renewable energy entities, with a special focus on small and medium-sized enterprises (SMEs) and public–private partnerships.
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