A dynamic crashing method for project management using simulation-based optimization
Proceedings of the 40th Conference on Winter Simulation
| Hi-index | 0.00 |
ProcessModel simulation allows the activity times of a project to be represented by a variety of distributions and further the resulting project time may also be represented by a variety of distributions. This is a significant improvement over the traditional methods of CPM and PERT. Program Evaluation and Review Technique (PERT) takes the CPM network and adds distributions to represent the activity times of the project. CPM assumes the activity times to be constant, which is not likely in the real world. PERT assumes the activity times of the project to be distributed as Beta distributions and the resulting project time to be a Normal distribution. This is better than assuming them to be constant, but these assumptions are needlessly restrictive. This paper demonstrates how simulation with ProcessModel can remove these needless restrictions.