Using a risk-based approach to project scheduling: A case illustration from semiconductor manufacturing |
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Authors: | Ascensin Zafra-Cabeza Miguel A Ridao Eduardo F Camacho |
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Institution: | aDepartment of Automatic and System Engineering, University of Seville, Escuela Superior de Ingenieros, Camino de los Descubrimientos, s/n, 41092 Seville, Spain |
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Abstract: | This paper introduces a risk-based optimization method to schedule projects. The method uses risk mitigation and optimal control techniques to minimize variables such as the project duration or the cost estimate at completion. Mitigation actions reduce the risk impacts that may affect the system. A model predictive control approach is used to determine the set of mitigation actions to be executed and the time in which they are taken. A real-life project in the field of semiconductor manufacturing has been taken as an example to show the benefits of the method in a deterministic case and a Monte Carlo simulation has also been carried out. |
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Keywords: | Project management Risk management Control Scheduling Manufacturing |
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