Comparison of Deterministic Approach and Monte Carlo Methods for Stochastic PERT Chart
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F14%3APU109911" target="_blank" >RIV/00216305:26510/14:PU109911 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Comparison of Deterministic Approach and Monte Carlo Methods for Stochastic PERT Chart
Original language description
The paper deals with a comparison of two different approaches (deterministic approach and Monte Carlo method) calculation of the probability of completion of the project. The base assumption of authors can be expressed: The difference between the resultsobtained by the Monte Carlo method and deterministic approach is not significant with increasing number of simulations (iterations). For this reason the hypothesis was formulated: There is no statistically significant difference between the calculated probabilities, i.e. both approaches are identical from application point of view. The problem was solved using the example project whose model (network chart) contained 18 nodes and 24 activities (18 real. 6 fictions). For each activity have been known three time estimates (pessimistic, most likely, optimistic). The planned date of completion of the project was selected at 200 time units and it was calculated the probability of completion of the project by deterministic approach and Monte
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AE - Management, administration and clerical work
OECD FORD branch
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Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Vision 2020: Sustainable Growth, Economic Development, and Global Competitiveness
ISBN
978-0-9860419-2-1
ISSN
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e-ISSN
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Number of pages
7
Pages from-to
1923-1929
Publisher name
International Business Information Management Association (IBIMA)
Place of publication
Valencia, Spain
Event location
Valencia
Event date
May 13, 2014
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000339308100197