Διερεύνηση και εμπλουτισμός της μεθόδου Earned Schedule με την ενσωμάτωση της αξιολόγησης κινδύνων
Research and enrichment of the Earned Schedule method with the incorporation of risk assessment

Master Thesis
Author
Βαλσαμίδης, Ηρακλής - Χρήστος
Valsamidis, Iraklis - Christos
Date
2026Advisor
Εμίρης, ΔημήτριοςEmiris, Dimitrios
View/ Open
Keywords
ES ; Earned Schedule ; Risk ; Risk Adjusted Earned Schedule ; Διαχείριση κινδύνων ; Χρονική απόδοση έργου ; Πρόβλεψη ολοκλήρωσηςAbstract
This thesis explores and enhances the Earned Schedule (ES) method by integrating risk assessment, aiming to improve the accuracy of time forecasts and the early identification of deviations in IT projects. The starting point of this research is the fact that, despite the clear superiority of Earned Schedule over traditional Earned Value Management (EVM) regarding time tracking, ES still relies primarily on historical progress data and does not systematically incorporate the expected impact of risks on the schedule.
The methodology of the thesis is based on a combination of literature review and applied analysis. Initially, the theoretical limitations of EVM and ES are examined, alongside the role of risk management in shaping schedule variances. Subsequently, the proposed Risk-Adjusted Earned Schedule (RA-ES) framework is developed, in which the core time indicators of ES are adjusted through the quantification of schedule risk exposure. The framework is evaluated through two case studies of IT projects of different nature and complexity.
The results indicate that RA-ES provides more realistic and insightful completion forecasts compared to classic ES, particularly in environments of high uncertainty. Furthermore, it enhances early warning capabilities, supports management decision-making more effectively, and substantially links time tracking with risk management. Overall, the thesis highlights that incorporating quantitative risk data into Earned Schedule can constitute a significant evolution for the schedule control of modern projects.


