The current state of network simulation in project management theory and practice

Schonberger has demonstrated the advantages of Monte-Carlo simulation of activity networks over the more traditional PERT/CPM techniques. He concluded however, that simulations were too expensive and required too extensive a background in probability for most project managers. This paper highlights the problems with PERT/CPM and reviews the approaches researchers and practitioners have taken to network simulation since Schonberger’s article. It then offers suggestions for future work and reevaluates Schonberger’s conclusions in light of current technology. [See IAOR 25108.]