Robust project management with the tilted beta distribution
Hahn, Eugene D. (Salisbury University. Department of Information and Decision Sciences)
López Martín, María del Mar (Universidad de Granada. Departamento de Didáctica de la Matemática)

Date: 2015
Abstract: Recent years have seen an increase in the development of robust approaches for stochastic project management methodologies such as PERT (Program Evaluation and Review Technique). These robust approaches allow for elevated likelihoods of outlying events, thereby widening interval estimates of project completion times. However, little attention has been paid to the fact that outlying events and/or expert judgments may be asymmetric. We propose the tilted beta distribution which permits both elevated likelihoods of outlying events as well as an asymmetric representation of these events. We examine the use of the tilted beta distribution in PERT with respect to other project management distributions.
Rights: Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial i la comunicació pública de l'obra, sempre que no sigui amb finalitats comercials, i sempre que es reconegui l'autoria de l'obra original. No es permet la creació d'obres derivades. Creative Commons
Language: Anglès
Document: article ; recerca ; publishedVersion
Subject: Activity times ; Finite mixture ; PERT ; Tilted beta distribution ; Robust project management ; Sensitivity analysis
Published in: SORT : statistics and operations research transactions, Vol. 39 Núm. 2 (July-December 2015) , p. 253-272 (Articles) , ISSN 2013-8830

Adreça alternativa: https://www.raco.cat/index.php/SORT/article/view/302262


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Articles > Research articles

 Record created 2015-12-23, last modified 2021-04-07



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