Crashing-risk-modeling-software (CRMS)

Abstract

According to Price Water house Coopers, 80% of the mega projects are delayed in Arab gulf. Crashing a schedule in project management is an important tool that finds solutions to delayed schedules, specifically in time and cost management. Traditional methods in schedule crashing are time consuming, and prone to human error. Moreover, incorporating risk in schedule crashing is even an impossible task for project managers. An automated crashing tool that considers risk and uncertainty in the activity durations and costs is developed and presented in this paper. The Crashing-Risk-Modeling Software (CRMS) is developed. CRMS defines the schedule network, and identifies a triangular distribution for each of the activities normal and crashed duration, and normal and crashed cost as well. CRMS uses Monte Carlo simulation in order to iterate the evaluation of the traditional slope equation. Then CRMS identifies the most occurred critical path, and the least crashed cost. Finally, CRMS shows a normal distribution of the least crashed cost with its respective critical path.