סמינר מחלקתי
Locating the Optimal Project Control point based on the Entropy of the project duration
Shiva Cohen-Kashi – M.Sc. student
Abstract:
A project is an undertaking with defined objectives and established starting and ending points that needs to be completed within specified time, resources and budget constraints. Typically during the planning phase a project plan is defined with the project activities, which enables the project manager to derive the expected total project duration. Unfortunately, in most cases the actual duration of the activities differs from the planned duration, leading to inability to anticipate the exact project duration. Enabling the managers to better predict the project duration and completion date is a major advantage which facilitates better decision making, more accurate risk management and higher profitability. This can be achieved by proper monitoring and control policy which will provide more information on the project and specifically the expected duration and completion date. Identifying the optimal control or inspection policy is a difficult task as it requires evaluating each potential policy and depending on the project duration and required number of points can require evaluating hundreds of options even for small scale projects
We propose an analytical approach for identifying the optimal project control points timing using concepts from the Information Theory. The methodology used is based on simulation-optimization using an exhaustive search over all possible control points and selecting the ones that provide the highest potential information on the project duration. The control points are selected based on the amount of information gained on the expected project duration measured by the entropy. The algorithm complexity is not depended on the number of the activities and it can easily process large projects with hundreds of activities.
This work was performed under the supervision of Prof. Irad Ben Gal
ההרצאה תתקיים ביום שלישי 02/06/15, בשעה 13:30 בחדר 206, בנין וולפסון הנדסה, הפקולטה להנדסה, אוניברסיטת תל-אביב
