Title

The Project Assessment By Simulation Technique

Keywords

Discrete event simulation; Monte carlo; Project management; Risk; Stochastic; Uncertainty

Abstract

Project uncertainty is present in many places including the estimates for activity durations, in the occurrence of unplanned or unforeseen events, and in the availability of critical resources. The impact can be project completion delays, increased costs, and decreased stakeholder benefit. The Project Assessment by Simulation Technique (PAST) enhances stakeholder visibility of project uncertainty, i.e., risk to project completion performance. In certain situations, this enhanced visibility may lead to improved project risk management and improved project completion performance. An engineering manager can use this article to gain insights into the PAST methodology, its use on a large complex project, and its potential benefits to project management. © 2007 by the American Society for Engineering Management.

Publication Date

1-1-2007

Publication Title

EMJ - Engineering Management Journal

Volume

19

Issue

4

Number of Pages

3-10

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1080/10429247.2007.11431743

Socpus ID

38949095209 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/38949095209

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