Resource Strategies for Dynamic Project Management

Abstract

Dynastrat, a dynamic‐strategy model, is a Monte Carlo simulation‐based program that explores alternative resource‐allocation strategies for construction projects that have uncertain activity durations and costs. It extends resource allocation beyond current models that assume activities' durations are deterministic. In projects of uncertain duration (1) Activity durations and costs depend on resource assignments; (2) good resource assignments depend on random variables that influence duration and cost; and (3) outcomes of these random variables are not known until the project is built. Dynastrat assigns resources during simulation of project progress by encapsulating decision rules to describe dynamic strategies that fit samples of labor and material costs, weather, productivities, and other random variables. Dynastrat models activity cost and time as random variables, models interdependencies among project activities and between their durations and costs, assesses weather effects on duration and cost of activities, incorporates simulated project status in decision making, provides a framework to model assignment of resources under uncertain project conditions, and evaluates the impact that different strategies may have on project duration and cost.