A stochastic model to control project duration and expenditure

Many models of Project Management and Scheduling have recognized the non-deterministic nature of the duration of activities but, unfortunately, have adopted deterministic descriptions for resources and expenditures. In this paper, a stochastic model is proposed considering the stochastic nature of d...

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Veröffentlicht in:	European journal of operational research 1994-10, Vol.78 (2), p.262-266
1. Verfasser:	Tavares, L.Valadares
Format:	Artikel
Sprache:	eng
Schlagworte:	Applied sciences Exact sciences and technology Expenditures Operational research and scientific management Operational research. Management science Operations research Project management Risk analysis Risk assessment Scheduling, sequencing Stochastic models Studies
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Beschreibung
Zusammenfassung:	Many models of Project Management and Scheduling have recognized the non-deterministic nature of the duration of activities but, unfortunately, have adopted deterministic descriptions for resources and expenditures. In this paper, a stochastic model is proposed considering the stochastic nature of durations and expenditures as well as their statistical interdependence. Advanced analytical results are deduced to assess the financial risk of a project as well as to plan and to control its financial profiles.
ISSN:	0377-2217 1872-6860
DOI:	10.1016/0377-2217(94)90388-3