DocumentCode
2516743
Title
Monte Carlo simulation for schedule risks
Author
McCabe, Brenda
Author_Institution
Dept. of Civil Eng., Toronto Univ., Ont., Canada
Volume
2
fYear
2003
fDate
7-10 Dec. 2003
Firstpage
1561
Abstract
Research was undertaken to assist practitioners in undertaking Monte Carlo simulation of project schedules. A probabilistic model was developed to translate project characteristics into schedule risk boundaries. This model has been tested in several projects and performed very well. Lessons learned during the application of Monte Carlo simulation to a large project are discussed.
Keywords
Monte Carlo methods; civil engineering computing; construction industry; digital simulation; risk management; scheduling; Monte Carlo simulation; construction engineering; probabilistic model; project characteristics; project schedule; schedule risk; Bayesian methods; Delay effects; Job shop scheduling; Monte Carlo methods; Parameter estimation; Performance evaluation; Productivity; Project management; Subcontracting; Testing;
fLanguage
English
Publisher
ieee
Conference_Titel
Simulation Conference, 2003. Proceedings of the 2003 Winter
Print_ISBN
0-7803-8131-9
Type
conf
DOI
10.1109/WSC.2003.1261603
Filename
1261603
Link To Document