Study on Project Schedule Risk Based on System Dynamics

With the increasing scale and complexity of modern project, project schedule management are influenced by lots of factors, such as delays and reworks. They also increase project schedule risk. Tradition project management methods can not guarantee project performance because they don´t consider integrity, dynamism and nonlinearity of project. On basis of analyzing the project process flow, the paper applies System Dynamics to establishing the simulation model of project schedule which has considered the influences of quality and rework. Through qualitative and quantitative analysis, the results of the case indicate the model can give another insight to manage and control project schedule risk for project managers.