An Integrated Risk-Based Technique for Project Plan Selection

Authors

Abstract:

  Selecting an effective project plan is a significant area in the project management. The present paper introduces a technique to identify the project plan efficient frontier for assessing the alternative project plans and selecting the best plan. The efficient frontier includes two criteria: the project cost and the project time. Besides, the paper presents a scheme to incorporate Directed Acyclic Graph (DAG) into the project risk analysis. This scheme is used to estimate the expected impacts of the occurrence of the project risks on the project cost and the project time. Also, a theoretical model is defined to provide integration between project risk analysis and overall project planning using the breakdown structures. We believe that applying the proposed technique helps the company’s managers in most effective manner dealing with his complicated project plan assessment and selection problems. The application of the technique was implemented in the companies in construction industry in which represented a considerable cost and time improvements.

Upgrade to premium to download articles

Sign up to access the full text

Already have an account?login

similar resources

an integrated risk-based technique for project plan selection

selecting an effective project plan is a significant area in the project management. the present paper introduces a technique to identify the project plan efficient frontier for assessing the alternative project plans and selecting the best plan. the efficient frontier includes two criteria: the project cost and the project time. besides, the paper presents a scheme to incorporate directed acyc...

full text

introducing an applicable technique for ranking and selecting project portfolio, based on qualitative risk assessment

projects execution is an important way to implement organizational strategies, especially in the project-based organizations. in such organizations, the decision-makers usually encounter a problem of the project portfolio selection. of course, regarding the decision-makers’ risk attitude, they tend to direct organizational resources toward projects with low threats and high opportunities. this ...

full text

A Grey-Based Fuzzy ELECTRE Model for Project Selection

Project selection is considered as an important problem in project management. It is multi-criteria in nature and is based on various quantitative and qualitative factors. The main purpose of this paper is to present a new rank-based method for project selection in outranking relation. According to this approach, decision alternatives were clustered in the concordance matrix and the discordance...

full text

An Integrated Human Resource Planning Framework for Project-based Organizations in Oil and Gas Industry

The complexities of the oil industry, combined project-based organizations’ complexities, have led the traditional planning of HR being failed. The success of these organizations is based on integrative human resource planning. To this end, the purpose of this study was to determine the factors and components of human resource planning in oil and gas project-based organizations and providing an...

full text

An integrated AHP-VIKOR methodology for plant location selection

Plant location selection invariably has a significant impact on the performance of many companies or manufacturing systems. In this paper, a novel methodology is structured to solve this problem. The two decision making methods, namely AHP and VIKOR, are integrated in order to make the best use of information available, either implicitly or explicitly. In addition, the Delphi method is utilized...

full text

An Integrated Approach for Collection Center Selection in Reverse Logistics

In this paper, a hybrid multi-criteria decision-making (MCDM)-method and mixed integer linear programming (MILP) approach in order to evaluation of the returned products' collectors along with their ordered quantities, is utilized. Firstly, the most important criteria of collection center in the car industry are identified. Then, in order to evaluate these proposed criteria, a hybrid Fuzzy Deci...

full text

My Resources

Save resource for easier access later

Save to my library Already added to my library

{@ msg_add @}


Journal title

volume 20  issue 1

pages  31- 40

publication date 2009-05

By following a journal you will be notified via email when a new issue of this journal is published.

Keywords

Hosted on Doprax cloud platform doprax.com

copyright © 2015-2023