This paper presents an analytical framework for effective management of projects with uncertain iterations. The framework is based upon: (1) the combination of two complementary techniques, one focused on improving iterative process architectures, the Design Structure Matrix, and one focused on predicting project performance, the Graphical Evaluation Review Technique; and (2) the introduction of an activity set-based criticality measure. The intent of the framework is to help project managers and researchers identify and evaluate alternative process architectures, in order to help them determine the alternative which best balances risk and other project performance parameters, as illustrated through an example application. 2012 Elsevier B.V. All rights reserved. * Corresponding author. Postal address: 8 Clarkson Ave., Potsdam, NY 13699-5790, USA. Tel.: +1 315 268 2131; fax: +1 315 268 4478. E-mail address: email@example.com (H.C. Martı́nez León).