A Simulation Study on the Impact of Activity Crashing on the Project Duration and Cost under Different Budget Release Scenarios

Abstract

The main goal of project control is to identify project opportunities or problems during project execution, such that corrective actions can be taken to bring the project in danger back on track when necessary. In this study, we define different scenarios to allocate the limited budget used for the cost of activity execution, delays, and corrective actions, according to the timing and amount of the budget release. A large computational experiment is conducted on real-life project data to evaluate the performance of each scenario. The results show that both the timing and amount of the budget release have an effect on project performance.