Analysis of Duration and Cost Estimate of Construction Projects Through Computer Simulation
Dukic, D.; Marie, T.; Babic, D.
Information Technology Interfaces, 2007. ITI 2007. 29th International Conference on
Volume , Issue , 25-28 June 2007 Page(s):107 - 112
Digital Object Identifier   10.1109/ITI.2007.4283753
Summary:Computer simulation has found its place in the field of construction project management as well. Its usage in solving the scheduling problem can significantly enhance the project manager's decision-making, especially in today's complex operating conditions. The model of analysis of duration and cost estimate of construction projects, as presented in this paper, is based on a computer simulation. The theoretical framework for generating random numbers has been laid down by the triangular distribution. A key role in the model is played by statistical analysis whose usage ultimately results in establishing an appropriate confidence interval for the mean project duration.

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