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2014 Analyzing Integrated Cost-Schedule Risk for Complex Product Systems R&D Projects
Zhe Xu, Jing Yu, Hongbo Li
J. Appl. Math. 2014: 1-10 (2014). DOI: 10.1155/2014/472640

Abstract

The vast majority of the research efforts in project risk management tend to assess cost risk and schedule risk independently. However, project cost and time are related in reality and the relationship between them should be analyzed directly. We propose an integrated cost and schedule risk assessment model for complex product systems R&D projects. Graphical evaluation review technique (GERT), Monte Carlo simulation, and probability distribution theory are utilized to establish the model. In addition, statistical analysis and regression analysis techniques are employed to analyze simulation outputs. Finally, a complex product systems R&D project as an example is modeled by the proposed approach and the simulation outputs are analyzed to illustrate the effectiveness of the risk assessment model. It seems that integrating cost and schedule risk assessment can provide more reliable risk estimation results.

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Zhe Xu. Jing Yu. Hongbo Li. "Analyzing Integrated Cost-Schedule Risk for Complex Product Systems R&D Projects." J. Appl. Math. 2014 1 - 10, 2014. https://doi.org/10.1155/2014/472640

Information

Published: 2014
First available in Project Euclid: 2 March 2015

Digital Object Identifier: 10.1155/2014/472640

Rights: Copyright © 2014 Hindawi

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