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Conceptual simulation model for strategic decision evaluation in project management

Conceptual simulation model for strategic decision evaluation in project management This paper focuses on a conceptual methodology for an integrated simulation model dubbed as dynamic simulation modelling system (DSMS) for proactive and optimal decision making within a project management framework. Due to the uncertainties in project environment, the technical and operational functionality of a facility needs to be assessed during development and operation phases of the project. The simulation model is used for optimising the investment decisions vis‐à‐vis evaluation of functionalities on project facilities in early stages of the project. Project life cycle objective functions (LCOFs) are employed as a set of decision criteria throughout the project’s life. The discussion is being extended on the need for setting up an integrated and user‐friendly model to encompass the processes in the entire life cycle of the project. Details of the system are described and a hypothetical case study is used to demonstrate its capabilities. Possible extensions are then outlined. The C++ programming language in association with the object‐oriented database management system is used to achieve the aforementioned objectives. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Logistics Information Management Emerald Publishing

Conceptual simulation model for strategic decision evaluation in project management

Logistics Information Management , Volume 15 (2): 17 – May 1, 2002

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Publisher
Emerald Publishing
Copyright
Copyright © 2002 MCB UP Ltd. All rights reserved.
ISSN
0957-6053
DOI
10.1108/09576050210413971
Publisher site
See Article on Publisher Site

Abstract

This paper focuses on a conceptual methodology for an integrated simulation model dubbed as dynamic simulation modelling system (DSMS) for proactive and optimal decision making within a project management framework. Due to the uncertainties in project environment, the technical and operational functionality of a facility needs to be assessed during development and operation phases of the project. The simulation model is used for optimising the investment decisions vis‐à‐vis evaluation of functionalities on project facilities in early stages of the project. Project life cycle objective functions (LCOFs) are employed as a set of decision criteria throughout the project’s life. The discussion is being extended on the need for setting up an integrated and user‐friendly model to encompass the processes in the entire life cycle of the project. Details of the system are described and a hypothetical case study is used to demonstrate its capabilities. Possible extensions are then outlined. The C++ programming language in association with the object‐oriented database management system is used to achieve the aforementioned objectives.

Journal

Logistics Information ManagementEmerald Publishing

Published: May 1, 2002

Keywords: Simulation; Project management; Facilities; Optimization management

References

  • Object‐oriented Analysis and Design with Applications
    Booch, G.
  • SIMULA‐an ALGOL‐based simulation language
    Dahl, O.J.; Nygaard, K.
  • ProModel tutorial
    Harrel, C.R.; Leavy, J.J.
  • Risk management in CPM network
    Riggs, L.S.

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