scholarly journals Comparative Analysis of Risk Reduction Using PERT/CPM Techniques

2019 ◽  
pp. 144-147
Author(s):  
Suchi Pandey ◽  
Hira Singh Yadav
Keyword(s):  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Program Evaluation ◽  
Comparative Analysis ◽  
Risk Reduction ◽  
Critical Path ◽  
Simulation Method ◽  
Monte Carlo Simulation Method ◽  
Analysis Method ◽  
The Cost

This paper analyzed the traditional probability analysis method for duration risk in program evaluation and review technique (PERT) and Critical Path Method (CPM). On the basis of that it simulates the project’s duration and analyzes the risk by Monte Carlo simulation method. The PERT/CPM produce begins with the hard work of developing an estimate of the cost each activity when it is performed in the planning way (including any crashing).

scholarly journals Uncertainty Cost Functions in Climate-Dependent Controllable Loads in Commercial Environments

Energies ◽  
2021 ◽  
Vol 14 (10) ◽  
pp. 2885
Author(s):  
Daniel Losada ◽  
Ameena Al-Sumaiti ◽  
Sergio Rivera
Keyword(s):  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Simulation Method ◽  
Electricity Sector ◽  
Cost Functions ◽  
Density Estimator ◽  
Monte Carlo Simulation Method ◽  
Commercial Building ◽  
Complementary Method ◽  
The Cost

This article presents the development, simulation and validation of the uncertainty cost functions for a commercial building with climate-dependent controllable loads, located in Florida, USA. For its development, statistical data on the energy consumption of the building in 2016 were used, along with the deployment of kernel density estimator to characterize its probabilistic behavior. For validation of the uncertainty cost functions, the Monte-Carlo simulation method was used to make comparisons between the analytical results and the results obtained by the method. The cost functions found differential errors of less than 1%, compared to the Monte-Carlo simulation method. With this, there is an analytical approach to the uncertainty costs of the building that can be used in the development of optimal energy dispatches, as well as a complementary method for the probabilistic characterization of the stochastic behavior of agents in the electricity sector.

scholarly journals Generalized Performance Measures of X- Control Charts Based on Different Sampling Schemes

2019 ◽  
Vol 2019 ◽  
pp. 1-11
Author(s):  
Rashid Mehmood ◽  
Muhammed Hisyam Lee ◽  
Muhammad Riaz ◽  
Iftikhar Ali
Keyword(s):  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Comparative Analysis ◽  
Performance Measures ◽  
Control Charts ◽  
Simulation Method ◽  
Monte Carlo Simulation Method ◽  
Sampling Strategies ◽  
Pivotal Quantity ◽  
Sampling Schemes

Different versions of X- control chart structure are available under various ranked set strategies. In these control charts, computation of performance measures was carried out through Monte Carlo simulation method (MCSM). In this article, we have defined a generalized structure of X- control charts under variant sampling strategies followed by derivation of their different performance measures. For the derivation of different performance measures, we have proposed pivotal quantity. For comparative analysis, we have presented results of generalized performance measures by involving numerical method (NM) as computation. We found that values of generalized performance measures based on NM are almost similar to values of performance measures based on MCSM. Also, NM is time efficient and can be considered as an alternative of MCSM.

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