IDEAS home Printed from https://ideas.repec.org/h/spr/prbchp/978-3-031-24294-6_17.html
   My bibliography  Save this book chapter

Resource Leveling of an Artificial Lake Construction Project with a Risk-Aware Approach

In: Operational Research in the Era of Digital Transformation and Business Analytics

Author

Listed:
  • Georgios K. Koulinas

    (Democritus University of Thrace)

  • Konstantinos A. Sidas

    (Hellenic Open University)

  • Dimitrios E. Koulouriotis

    (Democritus University of Thrace)

Abstract

This work examines risk factors that affect the duration of activities and the overall project timeline. Initially, statistical distributions are used to express the uncertainty of project time completion, and then, Monte Carlo Simulation is used to estimate the actual level of risk that each activity and the total project are exposed to. Next, we used the computed level of risk to construct a list of activities sorted by ascending risk level—this activities’ list was used as the priority list while performing the resource leveling process. The basic contribution of this study is the introduction of an approach that uses the level of risk to prioritize each activity during the assignment of constrained resources while minimizing resource usage fluctuations. The proposed approach is applied to estimate the impact of the risks to the total project duration of an artificial lake construction project and level constrained resources with respect to the activities’ risks.

Suggested Citation

  • Georgios K. Koulinas & Konstantinos A. Sidas & Dimitrios E. Koulouriotis, 2023. "Resource Leveling of an Artificial Lake Construction Project with a Risk-Aware Approach," Springer Proceedings in Business and Economics, in: Nikolaos F. Matsatsinis & Fotis C. Kitsios & Michael A. Madas & Maria I. Kamariotou (ed.), Operational Research in the Era of Digital Transformation and Business Analytics, pages 159-167, Springer.
  • Handle: RePEc:spr:prbchp:978-3-031-24294-6_17
    DOI: 10.1007/978-3-031-24294-6_17
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:prbchp:978-3-031-24294-6_17. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.