Method for simulating project duration and costs

摘要

The inventive method for simulating project costs and duration of a project with a set of interdependent tasks comprises the steps of:determining task duration probability distributions;performing different realizations of possible scenarios with different task durations, determining both total project duration and aggregated liquidation damages of penalties defined by task duration penalty functions; andconsolidating and displaying the results of all realizations.;The method can be used in a project-planning phase as well as in a project-tracking phase with dynamically updated actual task durations.