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dc.contributor.authorBatselier, Jordy
dc.contributor.authorVanhoucke, Mario
dc.date.accessioned2017-12-02T15:00:25Z
dc.date.available2017-12-02T15:00:25Z
dc.date.issued2016
dc.identifier.urihttp://hdl.handle.net/20.500.12127/5710
dc.description.abstractTraditionally, project managers produce cost and time forecasts by predicting the future course of specific events. In contrast,reference class forecasting (RCF) bypasses human judgment by basing forecasts on the actual outcomes of past projects similar to the project being forecasted. The RCF technique is compared with the most common traditional project forecasting methods, such as those based on Monte Carlo simulation and earned value management (EVM). The conducted evaluation is entirely based on real-life project data and shows that RCF indeed performs best, for both cost and time forecasting, and therefore supports the practical relevance of the technique.
dc.language.isoen
dc.subjectOperations & Supply Chain Management
dc.subjectSkill Development
dc.subjectMethodology
dc.subjectSchedule Management
dc.subjectCost Control
dc.titlePractical application and empirical evaluation of reference class forecasting for project management
dc.identifier.journalProject Management Journal
dc.source.volume47
dc.source.issue5
dc.source.beginpage36
dc.source.endpage51
vlerick.knowledgedomainOperations & Supply Chain Management
vlerick.typearticleJournal article with impact factor
vlerick.vlerickdepartmentTOM
dc.identifier.vperid177000
dc.identifier.vperid58614
dc.identifier.vpubid7016


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