Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects.
Scheduling is an essential part of construction project management. Planning and scheduling of construction tasks help engineers to complete the project on time and within the budget. Most of the construction project failed to finish within planned duration; one of the reasons is regarded to estimat...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Salahaddin University-Erbil
2019-10-01
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| Series: | Zanco Journal of Pure and Applied Sciences |
| Subjects: | |
| Online Access: | https://zancojournals.su.edu.krd/index.php/JPAS/article/view/2500 |
| _version_ | 1818128859739979776 |
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| author | Khalil Ismail Wali Shamal Ali Othman |
| author_facet | Khalil Ismail Wali Shamal Ali Othman |
| author_sort | Khalil Ismail Wali |
| collection | DOAJ |
| description | Scheduling is an essential part of construction project management. Planning and scheduling of construction tasks help engineers to complete the project on time and within the budget. Most of the construction project failed to finish within planned duration; one of the reasons is regarded to estimated project duration without considering uncertainties that may cause a delay in performing specific activities. Hence it is vital to develop a risk management process which deals with the risks of execution that affects the project duration. This study focused on Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects, by taking the construction of a residential house as a case study. The primary objective of this study analyzes the output of a project schedule risk simulation when Monte Carlo use to simulate the duration of individual activities of the project and compare the total project duration outputs graphically and through statistical analysis. Consequently, using the Critical Path Method (CPM) to determine the project duration, which is equal to 96 days. For deciding the activity duration, the researcher has made a form. The form consists of all house tasks and estimated quantity with three columns for estimating Optimistic Duration, Most Likely Duration, and Pessimistic Duration in accordance with the respondent's perception for establishing the project duration by using the Program Evaluation and Review Techniques (PERT) method, which is equal 103 days. Project duration with low risk equal to 103 days, with base risks equal to 107 days and with high-risk project duration equal to 111 days. The outcomes clearly show that it is extremely unlikely to complete the project within 98 days and there is 100% chance that the project will be completed in 115 days. The sensitivity analysis for residential construction house indicates that the project schedule is most sensitive to the activity of “Wall Ceramic Tiles”, which can influence the completion date because of the correlation coefficient of this activity reached to 0.39 and top-ranked of all other activities. |
| first_indexed | 2024-12-11T07:39:57Z |
| format | Article |
| id | doaj.art-2c5e40c8aedf418292cb9973e8740887 |
| institution | Directory Open Access Journal |
| issn | 2218-0230 2412-3986 |
| language | English |
| last_indexed | 2024-12-11T07:39:57Z |
| publishDate | 2019-10-01 |
| publisher | Salahaddin University-Erbil |
| record_format | Article |
| series | Zanco Journal of Pure and Applied Sciences |
| spelling | doaj.art-2c5e40c8aedf418292cb9973e87408872022-12-22T01:15:36ZengSalahaddin University-ErbilZanco Journal of Pure and Applied Sciences2218-02302412-39862019-10-013159010310.21271/zjpas.31.5.11Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects.Khalil Ismail Wali0Shamal Ali Othman1Department of Civil, College of Engineering, University of Salahaddin, Erbil, Kurdistan Region, IraqDepartment of Civil, College of Engineering, University of Salahaddin, Erbil, Kurdistan Region, IraqScheduling is an essential part of construction project management. Planning and scheduling of construction tasks help engineers to complete the project on time and within the budget. Most of the construction project failed to finish within planned duration; one of the reasons is regarded to estimated project duration without considering uncertainties that may cause a delay in performing specific activities. Hence it is vital to develop a risk management process which deals with the risks of execution that affects the project duration. This study focused on Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects, by taking the construction of a residential house as a case study. The primary objective of this study analyzes the output of a project schedule risk simulation when Monte Carlo use to simulate the duration of individual activities of the project and compare the total project duration outputs graphically and through statistical analysis. Consequently, using the Critical Path Method (CPM) to determine the project duration, which is equal to 96 days. For deciding the activity duration, the researcher has made a form. The form consists of all house tasks and estimated quantity with three columns for estimating Optimistic Duration, Most Likely Duration, and Pessimistic Duration in accordance with the respondent's perception for establishing the project duration by using the Program Evaluation and Review Techniques (PERT) method, which is equal 103 days. Project duration with low risk equal to 103 days, with base risks equal to 107 days and with high-risk project duration equal to 111 days. The outcomes clearly show that it is extremely unlikely to complete the project within 98 days and there is 100% chance that the project will be completed in 115 days. The sensitivity analysis for residential construction house indicates that the project schedule is most sensitive to the activity of “Wall Ceramic Tiles”, which can influence the completion date because of the correlation coefficient of this activity reached to 0.39 and top-ranked of all other activities.https://zancojournals.su.edu.krd/index.php/JPAS/article/view/2500Schedule Risk AnalysisThe Project Evaluationand Review Technique (PERT)Monte Carlo simulationCritical Path Method (CPM)Risky Project |
| spellingShingle | Khalil Ismail Wali Shamal Ali Othman Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects. Zanco Journal of Pure and Applied Sciences Schedule Risk Analysis The Project Evaluation and Review Technique (PERT) Monte Carlo simulation Critical Path Method (CPM) Risky Project |
| title | Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects. |
| title_full | Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects. |
| title_fullStr | Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects. |
| title_full_unstemmed | Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects. |
| title_short | Schedule Risk Analysis Using Monte Carlo Simulation for Residential Projects. |
| title_sort | schedule risk analysis using monte carlo simulation for residential projects |
| topic | Schedule Risk Analysis The Project Evaluation and Review Technique (PERT) Monte Carlo simulation Critical Path Method (CPM) Risky Project |
| url | https://zancojournals.su.edu.krd/index.php/JPAS/article/view/2500 |
| work_keys_str_mv | AT khalilismailwali scheduleriskanalysisusingmontecarlosimulationforresidentialprojects AT shamalaliothman scheduleriskanalysisusingmontecarlosimulationforresidentialprojects |