• DocumentCode
    3700676
  • Title

    Risk management in projects: Variation of parameters in the critical field

  • Author

    Wolfgang Tysiak

  • Author_Institution
    University of Applied Sciences Dortmund, Faculty of Business Administration, Emil-Figge-Straß
  • Volume
    2
  • fYear
    2015
  • Firstpage
    531
  • Lastpage
    534
  • Abstract
    If there are insecurities in the scheduling process of a project, the planning process becomes more complicated than in the deterministic case. In this contribution we want to show that the Monte Carlo approach not only provides the better results than the popular PERT approach, because the latter systematically underestimates the real risk, but in addition to that the Monte Carlo approach provides much deeper insights into the structure of the project than PERT.
  • Keywords
    "Monte Carlo methods","Risk management","Stochastic processes","Project management","Planning","Uncertainty","Robustness"
  • Publisher
    ieee
  • Conference_Titel
    Intelligent Data Acquisition and Advanced Computing Systems: Technology and Applications (IDAACS), 2015 IEEE 8th International Conference on
  • Print_ISBN
    978-1-4673-8359-2
  • Type

    conf

  • DOI
    10.1109/IDAACS.2015.7341362
  • Filename
    7341362