Large, complex business projects require thousands of separate activities and can cost millions of dollars. With such high stakes, managing these projects poses a challenge to any large organization.

Projects are time-limited efforts aimed at accomplishing specific goals. Project managers have the task of completing the project on time, on budget and with the required functionality. Before the ...

Other researchers have indicated the theoretical problems of using the PERT techniques commonly described in elementary operational research and operations management texts. Monte Carlo simulation has ...