A System Dynamics Approach to Feedback Processes in Project Scheduling
Received: 24 November 2023 | Revised: 23 December 2023 and 3 January2024 | Accepted: 3 January 2024 | Online: 1 February 2024
Corresponding author: Babatunde Omoniyi Odedairo
Abstract
Projects, as catalysts for proactive transformation, offer a temporary and adaptable framework that effectively handles complexities (or uncertainties) within a competitive corporate landscape. Hence, the use of an effective project management framework, such as Dynamic Project Scheduling (DPS), is a method to handle intricacies in order to accomplish organizational objectives. DPS refers to a triangle interaction involving baseline scheduling, schedule risk analysis, and project control while supporting schedule adjustment in response to changes and uncertainties. However, there is a lack of information regarding studies that have investigated the feedback mechanisms among DPS components. This study was designed to examine the counterintuitive relationships between these components using system dynamics. The quantities within the DPS system were identified and defined. A casual loop diagram was used to illustrate the interactions among these quantities. Subsequently, a Stock and Flow Diagram (SFD) was created to identify the inputs, states, and flow mechanisms within the DPS. Using the SFD, a system dynamics expression was generated which was then employed to compute the rate of change of the Budgeted Cost of Work Remaining (BCWR) for two projects at different time intervals. The results properly indicated the period of idleness during project execution. The use of BCWR rather than schedule variance provides a more effective visual representation for evaluating performance and tracking progress. The BCWR and planned value exhibit contrasting trends, highlighting the importance of earned value quantities in project control. The use of system dynamics in project management can enhance the planning and scheduling phase, allow project managers to monitor pertinent performance measures, and optimize project outcomes through informed decisions.
Keywords:
system dynamics, dynamic project scheduling, project performance measures, budgeted cost of work remaining, project schedulingDownloads
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