RT info:eu-repo/semantics/article
T1 Project risk management from the bottom-up: Activity Risk Index
A1 Acebes Senovilla, Fernando
A1 Pajares Gutiérrez, Javier
A1 González Varona, José Manuel
A1 López Paredes, Adolfo
K1 Activity Risk Index; Schedule Risk Baseline; Sensitivity analysis; Schedule risk analysis; Project control
AB Project managers need to manage risks throughout the project lifecycle and, thus, need to know how changes in activity durations influence project duration and risk. We propose a new indicator (the Activity Risk Index, ARI) that measures the contribution of each activity to the total project risk while it is underway. In particular, the indicator informs us about what activities contribute the most to the project’s uncertainty so that project managers can pay closer attention to the performance of these activities. The main difference between our indicator and other activity sensitivity metrics in the literature (e.g. Cruciality, Criticality, Significance, or Schedule Sensitivity Indices) is that our indicator is based on the Schedule Risk Baseline concept instead of on cost or schedule baselines. The new metric not only provides information at the beginning of the project, but also while it is underway. Furthermore, the ARI is the only one to offer a normalized result: if we add its value for each activity, the total sum is 100%.
PB Springer
SN 1435-246X
YR 2020
FD 2020
LK https://uvadoc.uva.es/handle/10324/64897
UL https://uvadoc.uva.es/handle/10324/64897
LA spa
NO Central European Journal of Operations Research, 2021, 29, 1375–1396
NO Producción Científica
DS UVaDOC
RD 11-dic-2024