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Project schedule recomputation after risk inclusion
Author(s) -
Shaikh Muzaffar A.
Publication year - 1998
Publication title -
systems engineering
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.474
H-Index - 50
eISSN - 1520-6858
pISSN - 1098-1241
DOI - 10.1002/(sici)1520-6858(1998)1:3<242::aid-sys5>3.0.co;2-r
Subject(s) - schedule , operations research , computer science , confidence interval , statistics , engineering , mathematics , operating system
In this paper, based on the assumption that the project schedulehas already been calculated prior to risk impact, a statisticalmethod is presented to recompute the expected schedule, itsstandard deviation, and 95% confidence for the true but unknownschedule. The confidence interval can serve to scientificallyestablish the upper and lower bounds for the schedule (and thecost) for use in, for example, the fee calculation ofcost‐plus‐fixed‐fee type projects. Even though the discussion inthis paper is limited to project schedule matters, the method canbe applied to project cost recomputation as well. © 1998 JohnWiley & Sons, Inc. Syst Eng 1: 242–249, 1998