Scheduling new product development projects using simulation-based dependency structure matrix

On the whole, appropriate scheduling is an extremely paramount factor in project planning. It makes planning items such as allocating resource, determining the number of contractors, maintaining, and delivering order easy. Due to its convoluted nature, scheduling new product development projects is very difficult; managers of these projects deal with complicated factors like uncertain activity duration, information flow and complex relationships. Dependency structure matrix (DSM) has been suggested to cope with these complexities. In the present study, uncertainty in estimating project duration is highlighted; therefore, input information like activity duration, information flow among activities, and the time factors are considered stochastic. Firstly, random numbers are generated based on probability distribution of inputs. Then, project duration and minimised project duration are simulated using DSM method and Monte‐Carlo simulation; when simulation turns stable, the mean and variance of durations are obtained. A numerical example is provided and findings are discussed.