An Integrated Risk-Based Technique for Project Plan Selection

Selecting an effective project plan is a significant area in the projectmanagement. the present paper introduces a technique to identify theproject plan efficient frontier for assessing the alternative projectplans and selecting the best plan . the efficient fro ntier includes twocriteria: the project cost and the project time. besides, the paperpresents a scheme to incorporate directed acyclic graph (dag) intothe project risk analysis.this scheme is used to estimate the expected impacts of theoccurrence of the project risks on the proje ct cost and the projecttime. also, a theoretical model is defined to provide integrationbetween project risk analysis and overall project planning using thebreakdown structures. we believe that applying the proposedtechnique helps the company 's managers in most effective mannerdealing with his complicated project plan assessment and selectionprob lems. the application of the technique was implemented in thecompanies in construction industry in which represented aconsiderable cost and time improvements.