A stochastic predictive control approach to project risk management
| Authors: | Zafra-Cabeza Ascensión, University of Seville. Escuela Superior de Ingenieros, Spain
Ridao Miguel A., University of Seville. Escuela Superior de Ingenieros, Spain
Camacho Eduardo F., University of Seville. Escuela Superior de Ingenieros, Spain |
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| Topic: | 9.1 Economic & Business Systems |
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| Session: | Economic and Business Systems |
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| Keywords: | Project scheduling, predictive control, stochastic programming,hybrid systems, cost estimation |
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Abstract
This work shows a control policy based on MPC and applied toproject risk management. MPC has been applied due the propertiesthat presents such as the easy constraint treatment or theextension to multivariable case. The control actions are themitigation actions to execute in order to reduce the riskexposure. Stochastic variables have been introduced to model theuncertainties of risk impacts. Integer variables are involved inthe optimization problem modelling the mitigation actions.
