Managing and controlling risk in complex infrastructure projects: Using discrete event simulation for stochastic scheduling in construction engineering courses
As construction projects become more complex in terms of financing, sourcing, multi-year build schedules and global integration, the use of more sophisticated analysis tools is critical to project success. The ability to accurately predict project schedule outcome and manage performance volatility is essential to controlling risk. One relatively new methodology in construction engineering is modeling the entire, or a portion of a project's schedule using discrete event simulation. This approach allows for a number of advantages over traditional scheduling algorithms such as PERT (program evaluation and review technique), CPM (critical path method) and Monte Carlo methodologies. This article presents an overview of stochastic scheduling literature in the construction industry that uses discrete event simulation as the analysis tool. As well, it relates the experience of one University and how it is integrating stochastic scheduling using discrete event simulation into three different construction engineering courses. Last, it discusses research presently under development that incorporates rare events related to security breaches into the discrete event construction schedule model.
Riley, L. (2012). Managing and controlling risk in complex infrastructure projects: Using discrete event simulation for stochastic scheduling in construction engineering courses. Simulation Series, 44 (14), 37-42. Retrieved from https://docs.rwu.edu/seccm_fp/65