Overlapping Boundaries of the Project Time Management and Project Risk Management
Based on utility function, milestones during project and/or the end of projects or programme may be categorized in what are called soft-deadline and hard-deadline. In contrast with the soft-end projects, the hard-end projects posses a decrease of utility function with a vertical asymptote character...
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doaj-cad42aef891c44acbdcb993470a674562020-11-24T23:52:37ZengInforec AssociationInformatică economică1453-13051842-80882010-01-01144156163Overlapping Boundaries of the Project Time Management and Project Risk ManagementMarius PODEANDan BENTACristian MIRCEANBased on utility function, milestones during project and/or the end of projects or programme may be categorized in what are called soft-deadline and hard-deadline. In contrast with the soft-end projects, the hard-end projects posses a decrease of utility function with a vertical asymptote character around the deadline for project completion. In extreme situations, the utility function itself may fall under zero (projects may generate losses to both constructor and customer). Existing risk analysis methodologies observe risks from monetary terms. The typical risks are correlated with an increase in final project costs. In order to estimate harddeadline milestones and/or end of projects or programme is critical to employ the time dimension rather than the typical cost-based risk analysis. Here, we comprehensively describe a structured methodology that focuses on minimizing and mitigating project specific delay risks. The method may supplement existing cost-based risk analysis in projects. We aim to elegantly combine moderation techniques to reveal the intrinsic risk of the projects. In addition to the technical risks, the moderation techniques are able to bring evidence of risks as the team efficacy, diverse un-correlations or miss-understanding about the roles of the team members in the team – most of the project soft risk. Described methodology encourages the common understanding of risks for participants, crystallizing the essence of what can go wrong in complex situations and where the opportunities can be unlocked. http://revistaie.ase.ro/content/56/15%20-%20Podean,%20Benta,%20Mircean.pdfProject ManagementRisk ManagementTime ManagementDeadlineDelays |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Marius PODEAN Dan BENTA Cristian MIRCEAN |
spellingShingle |
Marius PODEAN Dan BENTA Cristian MIRCEAN Overlapping Boundaries of the Project Time Management and Project Risk Management Informatică economică Project Management Risk Management Time Management Deadline Delays |
author_facet |
Marius PODEAN Dan BENTA Cristian MIRCEAN |
author_sort |
Marius PODEAN |
title |
Overlapping Boundaries of the Project Time Management and Project Risk Management |
title_short |
Overlapping Boundaries of the Project Time Management and Project Risk Management |
title_full |
Overlapping Boundaries of the Project Time Management and Project Risk Management |
title_fullStr |
Overlapping Boundaries of the Project Time Management and Project Risk Management |
title_full_unstemmed |
Overlapping Boundaries of the Project Time Management and Project Risk Management |
title_sort |
overlapping boundaries of the project time management and project risk management |
publisher |
Inforec Association |
series |
Informatică economică |
issn |
1453-1305 1842-8088 |
publishDate |
2010-01-01 |
description |
Based on utility function, milestones during project and/or the end of projects or programme may be categorized in what are called soft-deadline and hard-deadline. In contrast with the soft-end projects, the hard-end projects posses a decrease of utility function with a vertical asymptote character around the deadline for project completion. In extreme situations, the utility function itself may fall under zero (projects may generate losses to both constructor and customer). Existing risk analysis methodologies observe risks from monetary terms. The typical risks are correlated with an increase in final project costs. In order to estimate harddeadline milestones and/or end of projects or programme is critical to employ the time dimension rather than the typical cost-based risk analysis. Here, we comprehensively describe a structured methodology that focuses on minimizing and mitigating project specific delay risks. The method may supplement existing cost-based risk analysis in projects. We aim to elegantly combine moderation techniques to reveal the intrinsic risk of the projects. In addition to the technical risks, the moderation techniques are able to bring evidence of risks as the team efficacy, diverse un-correlations or miss-understanding about the roles of the team members in the team – most of the project soft risk. Described methodology encourages the common understanding of risks for participants, crystallizing the essence of what can go wrong in complex situations and where the opportunities can be unlocked. |
topic |
Project Management Risk Management Time Management Deadline Delays |
url |
http://revistaie.ase.ro/content/56/15%20-%20Podean,%20Benta,%20Mircean.pdf |
work_keys_str_mv |
AT mariuspodean overlappingboundariesoftheprojecttimemanagementandprojectriskmanagement AT danbenta overlappingboundariesoftheprojecttimemanagementandprojectriskmanagement AT cristianmircean overlappingboundariesoftheprojecttimemanagementandprojectriskmanagement |
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