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Application of heuristic solution procedures to the practical problem of project scheduling has previously been studied by numerous researchers. However, there is little consensus about their findings, and the practicing manager is currently at a loss as to which scheduling rule to use....
Persistent link: https://www.econbiz.de/10009208460
An algorithm is described for estimating arc and path criticalities in stochastic activity networks by combining Monte Carlo simulation with exact analysis conditioned on node release times. These estimators are proved to be unbiased and to have lower variance than the corresponding standard...
Persistent link: https://www.econbiz.de/10009208559
In this paper, we consider a class of two-stage stochastic optimization problems arising in the protection of vital arcs in a critical path network. A project is completed after a series of dependent tasks are all finished. We analyze a problem in which task finishing times are uncertain but can...
Persistent link: https://www.econbiz.de/10009208694
This paper builds upon earlier work from the decision/risk analysis area in presenting simple, easy-to-use approximations for the mean and variance of PERT activity times. These approximations offer significant advantages over the PERT formulas currently being taught and used, as well as over...
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