A novel earned value management model using Z-number

The earned value management (EVM) model is an essential technique for managing and forecasting project features such as scheduling and cost performances indexes. This paper presents a novel fuzzy earned-value model based on Z-number theory incorporating both the impreciseness of real life conditions and a degree of reliability through considering an expert judgment process. The latter factor has not been used by other researchers in the field. The proposed model provides a reliable assessment for the progress performance of a project and its ‘at completion’ cost in an uncertain environment. Finally, an illustrative case demonstrates the applicability of the proposed model in real life projects.