A Generic Model of Project Management with Vensim
- LI S
- Faculty of Engineering and Science of Agder…
Petrochemical projects are generally classified as high profit projects. On time finishing of these projects would be a critical factor for the development of the oil or gas based countries. Recent experiences in petrochemical project management in Iran, indicate some important problems in operating of these kinds of projects such as long delay and cost overrun. Considering the lost benefit of the projects delay, this paper aims to modeling the delay process using System Dynamic approach. This method provides a powerful support mechanism for resolving problems in highly complex and dynamic contexts. After a brief reference to delay causes in research and practice, the model is discussed. The results of this study emphasize the lack of available capacity effects on projects progress. Finally, the paper briefly debates the implication of the model structure for analyzing policies to solve the problem.