Second Moment Approach for the Probability Distribution of Project Performance Functions

  • Ivan Damnjanovic
  • Kenneth Reinschmidt
Part of the Risk, Systems and Decisions book series (RSD)


In this chapter we present the second moment methods for evaluating project performance functions where random variables can be continuous and/or discrete. We provide a comprehensive review of the method in context of its accuracy when compared to the results from the Monte Carlo simulation. Furthermore, we analyze the effect of correlations among the random variables and the linearization of the project performance functions.


Method of moments Project performance functions Correlations 


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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Ivan Damnjanovic
    • 1
  • Kenneth Reinschmidt
    • 2
  1. 1.Texas A&M UniversityCollege StationUSA
  2. 2.College StationUSA

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