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A PERT model based on the Dampster and Shafer's theory of evidence – application to product development

Author

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  • Francesco Lolli
  • Antonio Maria Coruzzolo
  • Matteo Zironi

Abstract

The epistemic uncertainty affecting the estimates of lead times in new product development may have significant side effects over the management of the said projects, and nowadays an effective tool to manage this kind of uncertainty is still missing for new product development projects. In this paper we propose a new project evaluation and review technique (PERT) model based on lead times defined by the theory of evidence. The main advantages of our proposal come from the inclusion and measurement of the epistemic uncertainty lying into lead time estimates along the PERT network, which is further analysed by means of Monte Carlo simulation. The work is completed by applying this model to a real instance of new product development process within a company, and the results obtained are analysed by investigating how different combination and transformation rules affect the probability distribution of the activity lead times.

Suggested Citation

  • Francesco Lolli & Antonio Maria Coruzzolo & Matteo Zironi, 2023. "A PERT model based on the Dampster and Shafer's theory of evidence – application to product development," International Journal of Productivity and Quality Management, Inderscience Enterprises Ltd, vol. 38(2), pages 143-165.
    • Handle: RePEc:ids:ijpqma:v:38:y:2023:i:2:p:143-165
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