Project bidding under deterministic and probabilistic activity durations

A bid for a project involves the projection into the future of several entitites which include required resources and their mode(s) of utilization, the times of realization of ‘key events’, and cost. A bid stands for a commitment by the contractor to deliver completed tasks at particular points in time and for a specified cost. This paper reports on an approach to the development of such a commitment under deterministic or probabilistic activity durations. The theoretical development is accompanied by a computer program for the PC.