Abstract
In this chapter we discuss the application of the second moment method in scheduling networks. The issue we focus here is on finding the probability distribution for the project completion time when there are multiple network paths in the project and therefore the critical path is itself uncertain. We present an approximate method to this problem and discuss its validity in a larger managerial context.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Keefer DL, Bodily SL (1983) Three-point approximations for continuous random variables. Manag Sci 29(5):595–609
MacCrimmon KR, Ryavec CA (1964) Analytical study of the PERT assumptions. Oper Res 12(1):16–37
McCabe B (2003) Construction engineering and project management III: Monte Carlo simulation for schedule risks. In: Proceedings of the 35th conference on Winter simulation: driving innovation. Winter Simulation Conference, pp 1561–1565
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2020 Springer Nature Switzerland AG
About this chapter
Cite this chapter
Damnjanovic, I., Reinschmidt, K. (2020). Approximate Risk Function for Project Durations. In: Data Analytics for Engineering and Construction Project Risk Management. Risk, Systems and Decisions. Springer, Cham. https://doi.org/10.1007/978-3-030-14251-3_8
Download citation
DOI: https://doi.org/10.1007/978-3-030-14251-3_8
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-14250-6
Online ISBN: 978-3-030-14251-3
eBook Packages: EngineeringEngineering (R0)