Managerial Tool for Work Quality Evaluation Based on Markov Chain Algorithm

Nikola Radoman ()

Journal of Management World, 2022, vol. 2022, issue 2, 158-165

Abstract: The aim of this study is to apply and validate the use of Markov chains in modelling and analysing the performance of working groups. The Markov chain model is applied to investigate the probability of accepting arriving work, the availability of workers, and the utilisation of a group. The model also indicates changes in the crews reliability and its utilisation for various numbers of staff. The paper provides managers with a practical tool for modeling and analysing the performance of working groups. However, this research is limited to the type of work with a fixed arrival rate and to the situation in which the work is lost if it is not initiated immediately upon arrival.

Keywords: Human Resource Management; Working Group; Evaluation Methodology; Optimal Decision-making (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bjx:jomwor:v:2022:y:2022:i:2:p:158-165:id:190

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