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All Journal Economic: Journal Economic and Business
Sinaga, Christin Lestari
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Using the Expected Monetary Value (EMV) Method to Minimize Risk in Project Decision Making Harahap, Lokot Muda; Sinaga, Christin Lestari; Lubis, Devi Aprilia; Sampurno, Muhammad Akbar; Nelfita, Natasyah
Economic: Journal Economic and Business Vol. 2 No. 4 (2023): ECONOMIC: Journal Economic and Business
Publisher : Lembaga Riset Mutiara Akbar (LARISMA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56495/ejeb.v2i4.593

Abstract

Effective decision making is key to achieving project success. Risk is always present in managing projects and can significantly impact the final outcome. The Expected Monetary Value (EMV) method is an important tool in managing project risk. EMV is used to calculate the monetary value of the various possible outcomes of a decision or series of decisions. In the context of project decision making, EMV helps project managers to estimate the monetary value of the risks associated with various decisions to be taken during the project cycle. This research uses a literature review type of study and the review model chosen is a narrative review. This research was conducted using a narrative review model. The research method used is secondary data collected from various international journals, papers, and previous research papers used as data sources and analyzed by the author taking into account the problems considered in this research.
Co-Authors Lokot Muda Harahap, Lokot Muda Lubis, Devi Aprilia Nelfita, Natasyah Sampurno, Muhammad Akbar