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COMPARISON OF PERT AND MONTE CARLO SIMULATION
AbstractRisk management is critical issue for successful competition of any project. In order to complete a project withinpredefined schedule it is crucial to estimate the probability of project completion precisely. The aim of projectmanagement when dealing with large and complex projects is to identify the critical path and one or severalsubcritical paths. In this paper a comparison between two most widely used project planning and schedulingtechniques PERT (Program Evaluation and Review Technique) and Monte Carlo simulation is made. PERTconsiders the uncertainties in activity duration by considering three estimates of time, while in Monte Carlosimulations the distribution for activity duration can be uniformed, triangle, normal etc. The analysis made in thispaper is based on same project using classical PERT and Monte Carlo simulation with uniform distribution oftime activity. The model used in this paper is developed in C++ programming language.Key wordsPERT, Monte Carlo simulation, project scheduling, activity duration.
COMPARISON OF PERT AND MONTE CARLO SIMULATION
AbstractRisk management is critical issue for successful competition of any project. In order to complete a project withinpredefined schedule it is crucial to estimate the probability of project completion precisely. The aim of projectmanagement when dealing with large and complex projects is to identify the critical path and one or severalsubcritical paths. In this paper a comparison between two most widely used project planning and schedulingtechniques PERT (Program Evaluation and Review Technique) and Monte Carlo simulation is made. PERTconsiders the uncertainties in activity duration by considering three estimates of time, while in Monte Carlosimulations the distribution for activity duration can be uniformed, triangle, normal etc. The analysis made in thispaper is based on same project using classical PERT and Monte Carlo simulation with uniform distribution oftime activity. The model used in this paper is developed in C++ programming language.Key wordsPERT, Monte Carlo simulation, project scheduling, activity duration.
COMPARISON OF PERT AND MONTE CARLO SIMULATION
Kukuseva Paneva, Maja (Autor:in) / Stefanov, Goce (Autor:in) / Citkuseva Dimitrovska, Biljana (Autor:in) / Milcevski, Dejan (Autor:in)
22.10.2021
ETIMA; Vol. 1 No. 1 (2021): First International Conference ETIMA 2021 ; 149-155
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
BASE | 2017
|Simplified CPM-PERT Simulation Model
Online Contents | 2001
|Simplified CPM/PERT Simulation Model
British Library Online Contents | 2000
|TECHNICAL PAPERS - Simplified CPM-PERT Simulation Model
Online Contents | 2000
|British Library Conference Proceedings | 1995
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