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Open AccessArticle

Analysis of the Transmission of Project Duration and Cost Impacts Based on the GERT Network Technique

by Zhiyong Li 1,2, Xiangtian Nie 1,2, Bo Wang 1,2,* and Tianyu Fan 1,2
1
School of Water Conservancy, North China University of Water Resources and Electric Power, Zhengzhou 450046, China
2
Collaborative Innovation Center of Water Resources Efficient Utilization and Support Engineering, Zhengzhou 450046, China
*
Author to whom correspondence should be addressed.
Symmetry 2019, 11(3), 337; https://doi.org/10.3390/sym11030337
Received: 14 January 2019 / Revised: 21 February 2019 / Accepted: 25 February 2019 / Published: 6 March 2019
(This article belongs to the Special Issue New Trends in Dynamics)
In engineering projects, project duration and a cost increase occur in every phase and will propagate their impacts downstream. Associated with the compensation of project duration, the duration and cost impacts are transferred among phases. In this paper, after illustrating the transmission of project duration and cost impacts, we will use the risk transmission theory and GERT (Graphic Evaluation and Review Technique) network technique to build a transmission model. We have designed equivalent parameters of project duration and cost impacts in the GERT model for serial, parallel, and hybrid structures. The algorithm of the GERT network for project cost and duration transmission is analyzed. The effectiveness of this model and algorithm is proved by numerical examples. This paper provides a new analytical method for cost and duration control of engineering projects. View Full-Text
Keywords: risk transmission; GERT network technique; cost loss transmission; duration gain-loss transmission risk transmission; GERT network technique; cost loss transmission; duration gain-loss transmission
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Li, Z.; Nie, X.; Wang, B.; Fan, T. Analysis of the Transmission of Project Duration and Cost Impacts Based on the GERT Network Technique. Symmetry 2019, 11, 337.

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