Project Reliability Model Considering Time – Cost – Resource Relationship under Uncertainty

• Published in: Procedia computer science Vol. 72; pp. 561 - 568
• Main Authors: Saputra, Yudha Andrian, Latiffianti, Effi
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 2015
• Subjects: Monte Carlo Simulation; Project Reliability; Time – Cost – Resources; Uncertainty; Time – Cost – Resources; Project Reliability; Uncertainty; Monte Carlo Simulation
• ISSN: 1877-0509; 1877-0509
• DOI: 10.1016/j.procs.2015.12.164

Since PERT was introduced in 1950's, many researchers have developed models to evaluate the probability of project success, which is to meet the target in terms of time and/or cost by considering uncertainty. This probability can be seen as the project reliability. In this paper, we proposed a model to measure project reliability with time and cost as the targets by considering resource availability under uncertainty. Typically, resource is also a factor that contributes to the time and cost uncertainty. Study in the field of project reliability has evolved but there were no further study re-viewing relationship between resources and both time and cost of the project. Therefore, in this research, we developed a model to explain various type of relationship among time, cost, and resource that mostly are prioritized in the project planning. We also provide a technical solution for this type of problem using Monte Carlo simulation. A numerical example is provided to give an illustration and to measure the level of practicability of this model to deal with real world problems.