The Application of Bayesian Statistics in Calculating Project Buffer

Abstract:

Article Preview

This paper reviews several current methods of calculating buffer on the basis of pointing out each merits and pitfalls and then introduces Bayesian statistical approach to CCS / BM domain to calculate the size of the project buffer, to overcome that the current method of the buffer calculation is too subjective and the defect on lacking of practical application. In Crystal Ball, we compare the simulation results of implementation process on the benchmark of C&PM, RESM and SM. The results show that the buffer using this method can ensure the stability of the project’s completion probability, and this method has great flexibility.

Info:

Periodical:

Edited by:

Qi Luo

Pages:

1018-1024

DOI:

10.4028/www.scientific.net/AMM.58-60.1018

Citation:

F. Ye et al., "The Application of Bayesian Statistics in Calculating Project Buffer", Applied Mechanics and Materials, Vols. 58-60, pp. 1018-1024, 2011

Online since:

June 2011

Export:

Price:

$35.00

In order to see related information, you need to Login.

In order to see related information, you need to Login.