On the fallacy of averages in project risk management

DOI10.1016/j.ejor.2004.04.003zbMath1066.90530OpenAlexW2097903472MaRDI QIDQ1772835

Salah E. Elmaghraby

Publication date: 21 April 2005

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.ejor.2004.04.003

zbMATH Keywords

Resource allocationProject planningStochastic work content

Mathematics Subject Classification ID

Management decision making, including multiple objectives (90B50) Stochastic models in economics (91B70) Resource and cost allocation (including fair division, apportionment, etc.) (91B32)

Related Items (14)

Scheduling for stability in single-machine production systems ⋮ Computing project makespan distributions: Markovian PERT networks revisited ⋮ A GAME THEORETIC OPTIMIZATION MODEL BETWEEN PROJECT RISK SET AND MEASURE SET ⋮ Evaluation of the quantiles and superquantiles of the makespan in interval valued activity networks ⋮ A stochastic modelling and optimization for the design of an LNG refuelling system in the Piraeus port region ⋮ Adjustment of the moments of the project completion times when activity times are exponentially distributed ⋮ Lower bound for the mean project completion time in dynamic PERT networks ⋮ Managing projects with uncertain deadlines ⋮ A new approach for quantitative risk analysis ⋮ Railway scheduling reduces the expected project makespan over roadrunner scheduling in a multi-mode project scheduling environment ⋮ Evaluating project completion time in project networks with discrete random activity durations ⋮ Maximizing the net present value of a project under uncertainty ⋮ Scheduling projects with stochastic activity duration to maximize expected net present value ⋮ A path-dependent contingent-claims approach to capacity investments

Cites Work

• Project scheduling under uncertainty: survey and research potentials
• The construction of stable project baseline schedules
• Managing New Product Definition in Highly Dynamic Environments
• Application of a Technique for Research and Development Program Evaluation
• Unnamed Item

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