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Decreasing the delay of Project X

Stok, A.J. (2020) Decreasing the delay of Project X.

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Abstract:Project on behalf of The Water Agency, on the reduction of risks to minimise possible delays and attempt to have Project X finish on time. Where a specific method is used. For this method, first, the baseline schedule of the project was determined with the corresponding network diagram, then the risks were identified with their distributions. These distributions were based on a survey sent to the stakeholders, in which the stakeholders filled out the optimistic, realistic and pessimistic time estimation of each activity. Additionally, they were asked to determine the top three risks of each activity with its corresponding severity. With this data, the risks per activity were determined. After the identifications of the risks, a Monte-Carlo simulation was performed to identify the critical activities and their corresponding risks. The activities were identified with sensitivity indices, these indices can be analysed to determine if an activity is or is not critical and if they influence the project. Furthermore, a scenario analysis is made to identify five different scenarios of the project and to study if the duration of the project is reduced when risks are minimised. So per scenario, different risks were prevented to see the influence on the project duration.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:31 mathematics, 83 economics, 85 business administration, organizational science
Programme:Industrial Engineering and Management BSc (56994)
Link to this item:http://purl.utwente.nl/essays/83937
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