Title :
Application of MC Method in Risk Decision of Engineering Project
Author :
Wang Yonggui ; Zhang Juan
Author_Institution :
Sch. of Civil Eng., Henan Polytech. Univ., Jiaozuo, China
Abstract :
Combined with engineering example, this paper utilizes the Monte Carlo method in network planning, calculates the probability of project completion or completion risk for specific planned construction period.
Keywords :
Monte Carlo methods; construction industry; decision making; project management; risk analysis; MC method; Monte Carlo method; completion risk; engineering project; network planning; planned construction period; project completion; risk decision; Analytical models; Gaussian distribution; Monte Carlo methods; Probability distribution; Risk analysis; Schedules;
Conference_Titel :
E-Product E-Service and E-Entertainment (ICEEE), 2010 International Conference on
Conference_Location :
Henan
Print_ISBN :
978-1-4244-7159-1
DOI :
10.1109/ICEEE.2010.5660465
