Project Management Model: Integrating Earned Schedule, Quality, and Risk in Earned Value Management

Earned Value Management (EVM) has been widely used as a project monitoring and control tool for projects due to its practical applications. This study integrates earned schedule, quality management, and risk management into earned value management to address the weaknesses and limitations of the traditional EVM and proposes a new project management model. The proposed model was tested in a sample bicycle project in order to validate its application. The proposed model was able to show how the quality problem affects the cost and schedule risk of a project with the quality performance metrics. The preventive actions made are also reflected in the risk indices as the project progresses. The proposed model also made the schedule delays more explicit and easy to understand since it shows the real time delay.