Comparative Study on Pert and Simulation Modeling
A solution to all the problems associated with analysing the actual PERT system is to simulate the PERT network, which gives an estimate of the overall process completion time.
Robust Optimization Strategies for Total Cost Control in Project Management
Robust optimization procedures for controlling total completion time penalty plus crashing cost in projects with uncertain activity times and linear and linear-based decision rules for making decisions about activity start times and the crashing of activity times are described.
Improving Organization Performance: Project Management Approach Sustainable Development in Face of Globalization
- Business, Engineering
Management ties together resources in an organization, mobilizes resources, and harmonizes efforts of all stakeholders to achieve organizational goals. Management in modern organizations have been…
Total Cost Control in Project Management via Satisficing
- EconomicsManag. Sci.
A robust optimization model is developed that uses a conditional value-at-risk satisficing measure and linear and piecewise-linear decision rules for activity start time and crashing decisions designed to perform robustly against all possible scenarios of activity time uncertainty, when implemented in either static or rolling horizon mode.
Designing practical coordinating contracts in decentralized projects
- EngineeringNaval Research Logistics (NRL)
Managing decentralized projects (DPs) effectively is a critical issue today as projects have become increasingly complex, costly, and strategically important (especially IT and new product…
Risk and rationality : an exploration of prospect theory in the context of project management
Managing Systems Engineering Projects with Uncertain Requirements
- EngineeringINCOSE International Symposium
Prior to being alerted that a requirement has changed, project management typically recommends that an engineer treat that requirement as fixed. But proper risk management emphasizes that all…
Open Innovation in the Italian Fashion System: Structural Characteristics in the Knitwear Sector
The purpose of this paper is to provide empirical evidence to improve the design value of the innovation processes that focus on aesthetic and rational factors. Innovation is central in the creative…
Planning and Forecasting in Capital Budgeting : The Practice of Business Organizations in Ethiopia
- Economics, Business
Capital investment decisions play vital role for the achievement of strategic plan of organizations. The main objective of this study is to investigate the capital budgeting practice of business…
Incentives and Gaming in Collaborative Projects Under Risk Sharing Partnerships
1. Problem Definition: This article explores the incentive issues and gaming behaviors of firms under risk sharing partnerships in a project management setting, motivated by real-life examples.…