Project Evaluation Using Cost-Time Investment Simulation

Kremljak, Zvonko; Palčić, Iztok; Kafol, C.

doi:10.2507/ijsimm13(4)5.279

Cited by 10 publications

(10 citation statements)

References 11 publications

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“…Ghasemzadeh and Archer proposed a framework for project portfolio selection to be used as a decision supporting tool in the portfolio management process . Cost‐time profile of projects may be used as an evaluation criterion when projects in a portfolio are being evaluated . A group of authors measured the impact of portfolio risk management on project success .…”

Section: Introductionmentioning

confidence: 99%

Lessons learned from 4‐year empowering project management with TALAIA OpenPPM

Mas

Mesquida

Jovanovic

et al. 2016

J Software Evolu Process

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Knowledge and experience are not the only prerequisite for a successful project; a well‐performing team using proper tools and techniques ensures efficient project management. Adequate tool is essential to support decision making in management of any organizational business units. TALAIA OpenPPM is an open‐source solution for managing projects, programs, and portfolios. SM2, founder of TALAIA OpenPPM, after 4 years of experience of the tool implementation in companies from different sectors, came to a conclusion that the successful adoption of the tool is strongly affected with existing maturity level of the project management processes established in the organization. Also, this article derives lessons learned by SM2 in expansion and opening of a new business line in the international market.

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Section: Introductionmentioning

confidence: 99%

Lessons learned from 4‐year empowering project management with TALAIA OpenPPM

Mas

Mesquida

Jovanovic

et al. 2016

J Software Evolu Process

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“…This paper will include Turner and Müller's interpretation of projects as temporary organisations, created to generate changes [17]. Projects are considered to be one of the basic means for achieving competitive advantage and success in business operations [18] [19]. [20].…”

Section: Importance Of Complexity Theory For Organisational Theorymentioning

confidence: 99%

Complexity Perspective and Engineering Systems – Novel Approaches

Gajic¹,

Palčić²,

Ćosić³

2016

DAAAM Proceedings

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Systems perspective is nowadays expanded to complexity perspective, by including aspects of disorder, instability, nonlinearity, unpredictability, and it is widely applied to different disciplines. The purpose of this paper is to contribute to engineering systems theory by observing projects as complex adaptive systems (CAS). Complexity theory could give some insights in the way organizations interact, relate, and evolve within their environment. Authors of this paper used literature review as a methodological approach, and focused on structural and dynamic complexity of systems. There is a need for understanding complex systems with numerous techniques and algorithms necessary for an engineer to operate in complex and dynamic environments (e.g. production and manufacturing). Implications of this paper could be used as a basis for further research that copes with complexity of CAS, as well as in bridging complexity concepts and managerial reality.

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“…In project management, it is reasonable to assume that all resources, people and equipment that take part in the project are directly and completely assignable to the project. Nevertheless, CTP and CTI could be applied in other fields too, for example in manufacturing scheduling optimization [12,13], and fit into the context of lean production [11,14,15,16,17,18,19].…”

Section: Cost-time Profile In Project Managementmentioning

confidence: 99%

“…Direct costs include labour, materials, and any other costs directly related to the project activities [11]. The Direct cost is obtained as follows:…”

Section: Cost-time Profile In Project Managementmentioning

confidence: 99%

Indicator for Project Optimization with the Cost-Time Investment Criterion

Buchmeister¹,

Palčić²

2016

DAAAM Proceedings

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Companies have to look permanently for new strategies and tools to improve processes, decrease cost and increase productivity and efficiency. Projects are one of the basic means by which a company achieves its competitive advantage and successful business operations. Among all success criteria, factors and frameworks, quality, costs and time remain the most important ones. They are also interdependent, especially in the field of project scheduling, which is our major research field. In the paper, we deal with a case study of a selected simple test project. We are introducing cost-time profiles to the project area. We want to find out the impact of non-critical activities execution periods to project's cost-time investment. Using slack for delay of such activities brings essential total improvements. The results show that the differences are significant, bringing a potential for project optimization. Additionally we compare the cases with the special indicator -coefficient of investment.

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Project Evaluation Using Cost-Time Investment Simulation

Cited by 10 publications

References 11 publications

Lessons learned from 4‐year empowering project management with TALAIA OpenPPM

Lessons learned from 4‐year empowering project management with TALAIA OpenPPM

Complexity Perspective and Engineering Systems – Novel Approaches

Indicator for Project Optimization with the Cost-Time Investment Criterion

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