EconPapers    
Economics at your fingertips  
 

Critical Path Analyses Via Chance Constrained and Stochastic Programming

A. Charnes, W. W. Cooper and G. L. Thompson
Additional contact information
A. Charnes: Northwestern University, Evanston, Illinois
W. W. Cooper: Carnegie Institute of Technology, Pittsburgh, Pennsylvania
G. L. Thompson: Carnegie Institute of Technology, Pittsburgh, Pennsylvania

Operations Research, 1964, vol. 12, issue 3, 460-470

Abstract: Chance-constrained programming methods are applied to examine some statistical properties of PERT networks. Using duality, the PERT method is shown to be equivalent to use of the crudest linear decision rule and the confidence (or lack thereof) in meeting constraints is explicitly presented. The distribution of completion times (= Tintner's stochastic programming) follows easily and may often be multimodal, contrasting with (erroneous) central limit theorem usages in the literature. Possible extensions and developments of PERT using more adequate chance-constrained models and techniques are suggested and will be presented elsewhere.

Date: 1964
References: Add references at CitEc
Citations: View citations in EconPapers (19)

Downloads: (external link)
http://dx.doi.org/10.1287/opre.12.3.460 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:12:y:1964:i:3:p:460-470

Access Statistics for this article

More articles in Operations Research from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().

 
Page updated 2025-03-19
Handle: RePEc:inm:oropre:v:12:y:1964:i:3:p:460-470