Florida International University Dynamic Complexity and Project Risk Case Study

1) Which of the five dynamic complexity features is the most significant factor that best explains the prevailing time and cost failures of project management? *

Performance dynamics over time (e.g., Brook’s law).

Feedback processes (e.g., self-correcting or self-reinforcing effects).

Nonlinear relationships

“Hard” and “soft” data

other (Explain in your posting)

2) What are the major limitations of the traditional cost and scheduling tools commonly used in project management? Discuss CPM, PERT, itemized bottom-up cost estimating, and any other tools or techniques used in project management.

3) What are your solutions or recommendations for project managers in order to overcome the limitations of the conventional cost and scheduling tools, in particular, for large-scale, complex projects?

Reference: http://web.mit.edu/jsterman/www/SDG/project.pdf