# The Enhanced-Earned Value Management (E-EVM) Model: A Proposal for the Aerospace Industry
###### Abstract
\begin{table}
\begin{tabular}{c c c c} \hline \hline
**Sector** & **Reference** & **Main topics** & **Publication** \\ \hline \multirow{6}{*}{Aerospace} & \multirow{6}{*}{(a) 13, 28} & Subcontracting management, & \multirow{2}{*}{(a) 1990–2000} \\  & & aircraft manufacturing and & \\  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \hline \multirow{6}{*}{Software development and computational research} & \multirow{6}{*}{(a) 32} & \multirow{6}{*}{(b) 14, 6, 19, 22} & \multirow{6}{*}{(a) 32} \\  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \hline \multirow{6}{*}{Products} & \multirow{6}{*}{(a) 5} & High technology products & (a) 2003 \\  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \hline \multirow{2}{*}{Army forces} & \multirow{2}{*}{8} & New schedule approach & \multirow{2}{*}{2014} \\  & & applied to us coast guard. & \\ \hline \multirow{6}{*}{Miscellaneous} & \multirow{6}{*}{(a) 26} & \multirow{6}{*}{EVM methodology revision.} & (a) 2019 \\  & & & \\ \cline{1-1}  & & & \\ \cline{1-1}  & & & \\ \hline \multirow{2}{*}{Chemical} & \multirow{2}{*}{29} & Improving forecasting & \multirow{2}{*}{2016} \\  & & models. & \\ \hline \multirow{6}{*}{Building construction} & \multirow{6}{*}{(a) 30, 34, 38, 40, 41, 42, 43, 44,} & Linear modeling in electrical & \multirow{6}{*}{(a) 2011–} \\  & & sector, new quality models, & \\ \cline{1-1}  & & cost risk analysis, Malaysia, & \\ \cline{1-1}  & & Europe and Egypt real & \\ \cline{1-1}  & & building cases, integrated cost, & \\ \cline{1-1}  & & quality and risk models & \\ \cline{1-1}  & & approach. & \\ \hline \multirow{2}{*}{Cement factory} & \multirow{2}{*}{33} & Time, cost, and quality & \multirow{2}{*}{1999} \\  & & trade-off approach. & \\ \hline \multirow{2}{*}{Oil and gas} & \multirow{2}{*}{55} & Bayesian model approach. & 2013 \\ \hline \multirow{2}{*}{Environment} & \multirow{2}{*}{45} & Measurement of project & \multirow{2}{*}{2019} \\  & & sustainability and & \\ \cline{1-1}  & & performance. & \\ \hline \hline \end{tabular}
\end{table} 
Table 1: Literature on Earned Value Management (EVM) application to industrial sectors. Source: Own elaboration. Our main conclusions focus on two fundamental findings. First, we offer a \"double vision\" of EVM which increases the accuracy of project information by obtaining more precise estimations of the resources needed to finalize the project. Second, we can set up a continuous improvement strategy by frequently applying the E-EVM-defined model. Finally, the conclusions obtained in this paper can help in revisiting the existing literature on EVM and support a very deep updated revision of the literature. The structure of this paper is as follows. Section 1 describes the framework research problem, the fields of application of the EVM model, and the main objective of this paper. Section 2 presents EVM methodology and reviews the empirical research by using this model. Section 3 contextualizes the EVM in the aerospace industry and describes how EVM methodology has been linked to this sector for a long time. Moreover, it revises the existing literature on this topic by including the latest papers concerning earned value management and some extended models. In Section 4, the new Enhanced-Earned Value Management (E-EVM) model is presented by highlighting its main benefits and contribution, and specifically how the treatment of high amount of information has been implemented in this model. Section 5 displays an empirical application of this new model to a simulated case. Finally, Section 6 summarizes and concludes.