Model of Effectiveness Earned Value Management in the Malaysian Manufacturing Sector

Abstract

Project management is the act of planning, organizing, motivating and controlling resources of time and cost to achieve specific goals known as the scope of the project. Earned value management (EVM) or earned value project/performance management (EVPM) is a project management technique that measures project progress and performance in an objective manner and provides an accurate forecast of any project performance problem. To practically demonstrate the effectiveness of EVM on manufacturing, a survey is created. The aim of this work is to show how effective EVM can be applied to the Malaysian manufacturing sector. The model is a more abstract way of schematizing a method, thus this approach may be extended to solve similar problems in other fields. The theory is a formalized model that is both generalizable and predictive and can thus be used prescriptively to other industries.