Seminar - Hemanta Doloi - Application of Simulation Technique in Life Cycle Project Management
Wednesday, September 11, 2002, 1.10 - 1.50 pm
Civil Engineering Lecture Room 3
This presentation will provide an insight, how the decision-making in project management can be enhanced by using the simulation technique. In complex projects, information integration throughout the life cycle has always been a challenge in decision-making process. The need analysis of the projects in competitive business environment is increasingly being realised among the project management professionals. There are plenty of examples of the failed projects due to poor definition of project scopes and untimely delivery of the project facilities. This has been evident worldwide where some US $300 billion has been lost on failed projects. In modern project management, it is essential that related techniques be employed in an integrated manner to maximise the total project output.
This presentation focuses on a technique for integrating and analysing upstream and downstream information from the project life cycle for early problem detection in terms of scope, time and total investment decisions. Simulation technology acts as a vehicle for strategic change management of the projects' scope and helps fine-tuning the dynamic business environments. The undertaken research has proved that the simulation is one of the best options to move forward and to sustain in the ever changing and competitive business world for project management professionals.