Abstract
Monte Carlo simulations can be used in dynamic project scheduling to measure the sensitivity of project activities as described in article “RA5: Schedule sensitivity” on page 123 or to evaluate the accuracy of forecasting methods used in Earned Value Management (see article “PC13: Forecast accuracy” on page 236). In this article, the underlying principle used during these simulations is briefly explained and illustrated on a small example. In the example, the baseline duration of an activity must be replaced by a number generated from a predefined distribution function.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
This section is also available as an article entitled “Measuring time sensitivity in a project: The criticality index” published online at PM Knowledge Center.
- 2.
This section is also available as an article entitled “Measuring time sensitivity in a project: The cruciality index (Pearson’s product-moment)” published online at PM Knowledge Center.
- 3.
This section is also available as an article entitled “Measuring time sensitivity in a project: The cruciality index (Kendall’s tau rank correlation)” published online at PM Knowledge Center.
- 4.
This section is also available as an article entitled “Measuring time sensitivity in a project: The cruciality index (Spearman’s rank correlation)” published online at PM Knowledge Center.
- 5.
This section is also available as an article entitled “Measuring time sensitivity in a project: The schedule sensitivity index” published online at PM Knowledge Center.
- 6.
This section is also available as an article entitled “Measuring time sensitivity in a project: The significance index” published online at PM Knowledge Center.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer International Publishing Switzerland
About this chapter
Cite this chapter
Vanhoucke, M. (2016). Schedule Risk Analysis. In: Integrated Project Management Sourcebook. Springer, Cham. https://doi.org/10.1007/978-3-319-27373-0_7
Download citation
DOI: https://doi.org/10.1007/978-3-319-27373-0_7
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-27372-3
Online ISBN: 978-3-319-27373-0
eBook Packages: Business and ManagementBusiness and Management (R0)