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Assessing Project Schedule Risk with Contingent Tasks by Spreadsheet-Based Simulation - This article presents an approach that is based on an extended precedence network to integrate contingent tasks, both those occurring by chance and those whose occurrences are conditional. These are integrated into a system embodying all scenarios. The risk situation defined is translated into a set of spreadsheet modules over which simulations of project duration are performed. This is done using a general purpose simulation program to evaluate the schedule feasibility. An example design and build project is used to illustrate the proposed approach and highlight the benefits of end-user computing for schedule risk assessment.
Evaluating CPM Reliability: A Linguistic Approach - The logic of language provides the criteria for establishing verifiable reliability of CPM networks. A CPM network is composed of many parts that are arranged and presented in various combinations of relationships throughout a continuum of time. The end result of a CPM network is more than reaching an end date and completing a project. The end result of a CPM network is the planned culmination of stated simple and complex logical statements whose parts are correctly identified and related so as to grant congruence with the physical work described by the network at any given point of time. Such congruence bestows reliability and predictability to the network logic. Linguistics and logic reveal the intellectual process of ideation and definition development genetically inherent in science, mathematics and philosophy. CPM practice requires the same degree of precision.
Effective Cost Management -- Back to Basics - Cost management should be regarded as a process requiring the integration of separate discipline methodologies and the involvement of many persons who are both part of and external to the project team. Meaningful cost management requires thinking and acting outside the project. This implies that cost and benefits be considered in total and not limited to a project's capital budget, that organizational requirements be considered, and that the sometimes competing goals between projects and corporate entities be optimized and aligned. Effective cost management requires the implementation of methodologies and steps that are repeatable from project to project and can be integrated with organization goals. This article is reprinted from the 2005 AACE International Transactions where it was listed as CSC.11.