The impact of applying effort to reduce activity variability on the project time and cost performance
Publication typeVlerick strategic journal article
JournalEuropean Journal of Operational Research
Publication Begin page442
Publication End page453
MetadataShow full item record
AbstractDuring project execution, deviations from the baseline schedule are inevitable due to the presence of uncertainty and variability. To assure successful project completion, the project’s progress should be monitored and corrective actions should be taken to get the project back on track. This paper presents an integrated project control procedure for measuring the project’s progress and taking corrective actions when necessary. We apply corrective actions that reduce the activity variability to improve the project outcome. Therefore, we quantify the relation between the applied managerial effort and the reduction in activity variability. Moreover, we define three distinct control strategies to take corrective actions on activities, i.e. an interventive strategy, a preventive strategy and a hybrid strategy. A computational experiment is conducted to evaluate the performance of these strategies. The results of this experiment show that different strategies are preferred depending on the topological network structure of projects. More specifically, the interventive strategy and hybrid strategy are preferred for parallel projects, while the preventive strategy is preferred for serial projects.
Knowledge Domain/IndustryOperations & Supply Chain Management