Discovering the Potential of Risk-based Critical Chain Project Management in the Maritime Industry

There is a never-ending quest to search for better ways of planning and controlling projects. Currently the majority of all projects are planned with the critical path method and controlled using earned value management. This way of planning and controlling projects has been used for decades now and can be seen as traditional project management ...

The use of Real Options for investment decision-making in an emerging LNG infrastructure.

Europe’s transport sector is predominantly fuelled by oil products, fuels which are finite and emit large amounts of greenhouse gasses (i.e. CO2 and NOx) upon combustion. Therefore the sector is faced with stricter emission control regulations in the coming decade. The use of liquefied natural gas (LNG) as a fuel has shown prosperous results for...

Mitigation Controller: Adaptive Simulation Approach for Planning Control Measures in Large Construction Projects

Probabilistic Monte Carlo simulations are often used to determine a project's completion time given a required probability level. During project execution, schedule changes negatively affect the probability of meeting the project's completion time. A manual trial and error approach is then conducted to find a set of mitigation measures to...

MitC: Open-source software for construction project control and delay mitigation

Changes in a construction project schedule can impact the project's planned duration, resulting in penalties. A manual trial-and-error probabilistic approach is usually conducted to find an appropriate set of corrective measures to mitigate delays of the overall project. However, this approach does not capture the actual goal-oriented...