Study of Cost-Time-Quality in Project Failure Risk Assessment Based on Monte Carlo Simulation

Xing Pan and Zi-ling Xin ()
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Xing Pan: Beihang University
Zi-ling Xin: Beihang University

Chapter Chapter 144 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 1361-1368 from Springer

Abstract: Abstract In order to analyze project failure risk, the quality factor, added on the basis of cost-time joint risk assessment, are showed by the degree of deviation and expressed by 2-norm firstly. Secondly, considering the cost-time-quality factors jointly, the joint distribution model of cost-time based on the Monte Carlo model is established; meanwhile, the definition of project failure risk value is given. Last, an example is given based on Program Evaluation Review Technique (PERT) to simulate and analyse project failure risk through Monte Carlo Simulation (MCS).

Keywords: Cost-time-quality; Engineering project failure risk; Monte Carlo Simulation; The degree of deviation (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38391-5_144

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DOI: 10.1007/978-3-642-38391-5_144

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