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This paper uses a literature review to present the risk factors that are most common to project success criteria through a project's entire life cycle. Empirical investigation and statistical analysis examined correlations between these factors. On the basis of the statistical correlations found we conclude that there are four factors in the initiation phase that could lead to the occurrence of additional...
One of the most popular techniques to handle insecurities and risks in project management is the well-known PERT approach. But this approach contains some disadvantages that are not always clearly visible at first sight. In this contribution we show how to overcome these disadvantages of the PERT approach by using Monte Carlo simulation.
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