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Dynamic scheduling: integrating schedule risk analysis with earned value management

Abstract

The topic of this paper is dynamic project scheduling to illustrate that project scheduling is a dynamic process that involves a continuous stream of changes and is a never ending process to support decisions that need to be made along the life of the project. The focus of this paper lies on three crucial dimensions of dynamic scheduling which can be briefly outlined along the following lines: (i) Baseline scheduling to construct a timetable that provides a start and end date for each project activity, taking activity relations, resource constraints and other project characteristics into account, and aiming to reach a certain scheduling objective, (ii) risk analysis to analyze the strengths and weaknesses of your project schedule in order to obtain information about the schedule sensitivity and the possible changes that undoubtedly occur during project progress and (iii) project control to measure the (time and cost) performance of a project during its progress and use the information obtained during the scheduling and risk analysis steps to monitor and update the project and to take corrective actions in case of problems. The focus of the current paper is on the importance and crucial role of the baseline scheduling component for the two other components, and the integration of the schedule risk and project control component in order to support a better corrective action decision making when the project is in trouble

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