Optimal use of budget reserves to minimize technical and management failure risks during complex project development

@article{Dillon2005OptimalUO,
  title={Optimal use of budget reserves to minimize technical and management failure risks during complex project development},
  author={Robin L. Dillon and Marie-Elisabeth Pat{\'e}-Cornell and Seth D. Guikema},
  journal={IEEE Transactions on Engineering Management},
  year={2005},
  volume={52},
  pages={382-395}
}
Project managers are recognizing that adequate resource reserves are a critical success factor in a project development environment that is complex and uncertain. Yet, justifying the need for project reserves is still a challenge, as is the optimal allocation of any available resources to minimize development uncertainties. This paper presents a multiperiod decision model designed to support the management of reserves considering the risks of failures including technical, managerial, i.e… CONTINUE READING
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