Software implementation of project duration assessment model and its evaluation

Abstract

Determination of project completion time is crucial for considerable number of projects, especially for the time-terminated ones. Experience showed that it is not enough to use standard network planning methods (CPM/PERT) only, particularly for stochastic projects like research and development ones. In this paper, the project time determination is based on superposition for defined network diagram. Thereby, the basic network model that consists of two parallel flows is observed: critical and (sub)critical, and can be used for representation of any project plan. Then, the project time determination is calculated by analytical method - based on Clark's formulas. Project duration assessment model, that is developed, originates on analysis of analytical method, and its parameters are defined based on collected empirical material which includes sample of 43 completed project plans. It is implemented in interface of one of the project management software, and evaluation is achieved according to preset criteria. ©2010 IEEE.