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Progress Data

In: The Illusion of Control

Author

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  • Mario Vanhoucke

    (Ghent University)

Abstract

This chapter presents three fundamentally different models to generate artificial progress data. These periodic data measure the performance of ongoing projects in various ways to generate delays and cost overruns. Since the progress data are created artificially, they must be generated through Monte Carlo simulations. This involves making choices about probability distributions, risk events, and project uncertainty. It will be shown that academic researchers must make this choice by combining their imagination with a thorough knowledge of statistics.

Suggested Citation

  • Mario Vanhoucke, 2023. "Progress Data," Management for Professionals, in: The Illusion of Control, chapter 0, pages 225-241, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-31785-9_12
    DOI: 10.1007/978-3-031-31785-9_12
    as

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