Progress Data

Mario Vanhoucke
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Mario Vanhoucke: Ghent University

Chapter Chapter 12 in The Illusion of Control, 2023, pp 225-241 from Springer

Abstract: Abstract This chapter presents three fundamentally different models to generate artificial progress data. These periodic data measure the performance of ongoing projects in various ways to generate delays and cost overruns. Since the progress data are created artificially, they must be generated through Monte Carlo simulations. This involves making choices about probability distributions, risk events, and project uncertainty. It will be shown that academic researchers must make this choice by combining their imagination with a thorough knowledge of statistics.

Keywords: Progress data; Monte Carlo simulation; Project variation; Project risk (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-31785-9_12

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DOI: 10.1007/978-3-031-31785-9_12

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