Application of approximation technique to on-line updating of the actual cost curve in the earned value method

The Earned Value Method (EVM) is a method commonly used in the quantitative project management. The course of the actual curve is usually different from the course of the planned curve. In order to provide a reliable estimation of the time of the project implementation or its real cost, the method of on-line updating the actual cost (AC) original curve can be applied. The actual cost curve is usually of the S-curve character. The approximation method is often used in the engineering applications. In the paper, the possibility of applying the polynomial type approximation method to the on-line updating of the actual cost curve is discussed.