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Title

Time Estimation for Project Management Life Cycle: A Simulation Approach

Author

P. K. Suri, Bharat Bhushan, Ashish Jolly

Citation

Vol. 9  No. 5  pp. 211-215

Abstract

The Project Life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. Project development has increased importance in business due to stiff competition and a fast changing business environment. Its cycle time is critical as it decides the success of a business. If the project is late to market by four months in a life cycle of five years, it loses one third of its profit. Keeping in view an attempt has been made to design a simulator for time estimation of project management process using Erlang-4 distribution. The input for the simulator has been derived by using an algorithm for generating pseudo random numbers which follows Erlang-4 distribution. This simulator will be an asset to affordably keep track of the time of phases during the process of project management.

Keywords

Simulation, Phases, Time estimation, Project Management Process, Effort Estimation, Erlang Distribution

URL

http://paper.ijcsns.org/07_book/200905/20090528.pdf