A management oriented approach to reduce a project duration and its risk (variability)

The effects of different activities on risk and the expected completion time of a project are not the same; various activities have various effects on the successful completion of a project. Based on this fact, one of the most important issues in project management is to determine important activities and the amount of effort that should be assigned to control them, thereby completing the project successfully. In this paper, one index and one method are proposed to satisfy this necessity. Our main hypothesis is, expending effort on activities and controlling them actively results in activities risk reduction. Based on this hypothesis, the proposed index and method are compared to existing indices in the literature. Comparison results show that the proposed index and method strongly surpass other indices.