Crashing of stochastic processes by sampling and optimisation

  title={Crashing of stochastic processes by sampling and optimisation},
  author={Walter J. Gutjahr and Christine Strauss and Martin Toth},
  journal={Business Proc. Manag. Journal},
The application of advanced methods of process management is essential, especially in those fields in which activity durations can be determined only vaguely, while at the same time a highly competitive market enforces strict completion schedules through the implementation of penalties. The technique presented is most suitable for determining a time‐cost trade‐off based on practice‐relevant assumptions. Completion time overruns usually cause penalties whose size depends on the degree of the… CONTINUE READING