Design and Development of Simulator for Risk Analysis

Volume: 1    Issue: 5

Year of Publication: 2015

Pages: (65-68)

Authors: Harpreet Kaur, Isha Sharma, Arpna Dhingra, Arjinder Singh

Download Full Text (PDF)

Abstract

In software designing every phase consumes some resources and some cost which is associated with these resources. In every case the cost of software, vary with the development duration of the software. The most important work done by the project manager is to maintain the balance between time and cost and adjust the optimal project schedule. To resolve the schedule and cost risk of the software the Monte Carlo Simulation method is used with the help of Program Evaluation and Review Technique (PERT ) . With this technique the Schedule and cost risk will be analyzed so the project manager can apply or implement some mitigation process on software on the right time.

References

1. HUANG Jian-wen and WANG Xing-xia, 2009.”Risk Analysis of Construction Schedule Based on PERT and MC Simulation” International Conference on Information Management, Innovation Management and Industrial Engineering(IEEE)

2. Amnon Gonen, 2008. “Simulation Results on Project Completion Time” , Cape Town, South Africa (c) 2008 PICMET

3. Kelly D. Moses, Stephan F. Hooker.2005. “Development of Quantitative Cost and Schedule Risk Analysis Process” Proceedings of the 18th International Conference on Systems Engineering (ISCEng’05)

4. Dezhi Jin, Zhuofu Wang, Jianming Yang, Meigui Han,2010.” Construction Project Schedule Risk Analysis and Assessment Using Monte Carlo Simulation Method” IEEE

5. Amnon, Gonen, “Estimating Project Completion Times – Simulation and Analytic Approach”, Proceedings of the 2007 IEEE IEEM, 2007

6. Boehm, B. W.,”Software Risk Management: Principles and Practice”s, IEEE Software, Vol. 8, No. 1, 1991

7. Boehm, B. W.,“Risk Control”, American Programmer, 1992, vol. 5, no. September

8. Charette, R.N., “Why software fails?” , IEEE Spectrum, 2005

9. David, T. Hulett, “Integrated Cost / Schedule Risk Analysis”, PMI Paper, 2004.

10. Simmons L.F., “Project Management-Critical Path Method (CPM) and PERT Simulated with Process Model”, Proceedings of the 2002 Winter Simulation Conference, 2002

Keywords

Scheduling; Risk analysis; Program Evaluation and Review Technique; Beta Distribution;