Open AccessComparative Analysis of Risk Reduction Using PERT/CPM Techniques
Author(s) -
Suchitra Pandey,
Hira Singh Yadav
Publication year - 2019
Publication title -
international journal of scientific research in science, engineering and technology
Language(s) - English
Resource type - Journals
eISSN - 2395-1990
pISSN - 2394-4099
DOI - 10.32628/ijsrset196521
Subject(s) - critical path method , duration (music) , monte carlo method , reduction (mathematics) , computer science , operations research , reliability engineering , engineering , statistics , mathematics , systems engineering , physics , geometry , acoustics
This paper analyzed the traditional probability analysis method for duration risk in program evaluation and review technique (PERT) and Critical Path Method (CPM). On the basis of that it simulates the project’s duration and analyzes the risk by Monte Carlo simulation method. The PERT/CPM produce begins with the hard work of developing an estimate of the cost each activity when it is performed in the planning way (including any crashing).