• Home
  • Search
  • STOCHASTIC PROCESSES IN PROJECT MANAGEMENT
  • https://doi.org/10.21303/2504-5571.2018.00799Copy DOI Icon

STOCHASTIC PROCESSES IN PROJECT MANAGEMENT

Show More
  • Abstract
  • Highlights & Summary
  • Literature Map
  • References
  • Similar Papers
Abstract

Performance of planned activities not always leads to the achievement of planned results in innovation projects with a high degree of uncertainty. Management of such specific projects requires the usage of specific methods and processes. It is necessary to develop own stochastic process methods rather than use classical methods of deterministic management. The main peculiarity of stochastic processes of projects consists in the inability to carry out more than one experiment. Implementation of a project is a stochastic process, which is carried out only once. For the purposes of the research, stochastic project management is the process of organisation, planning and control over projects, in which the decisions and actions of managers are described by stochastic functions. If the project realisation is described by stochastic processes, the project management process is indeed described by stochastic processes. This research suggests a project management approach based on the focus on the project product and project management as stochastic processes based on stochastic functions. It is demonstrated that stochastic function values, which underlie the stochastic processes, are formed by the intellectual instruments of those involved in the project and are developed on the basis of their knowledge and skills. The latter, in turn, are the result of studying and practical work on the project. Therefore, it is difficult to predict decisions and actions of managers and contractors, even if internal and external influences on them are specified. Then, any decisions or actions of such persons with regard to the external observer are described by stochastic functions. The purpose of this study is to describe the processes of stochastic project management. The purpose of the study is the project management process. The subject of research is the methods of stochastic project management. Within the framework of the study, all groups of processes of stochastic control will be mathematically described and the conditions of their impact determined. The processes of stochastic project management are outlined and formally presented. These are the processes of project management organisation, the processes of project management support, processes of project content definition, processes of defining the resources, required for the project works, processes of project planning, processes of influence on contractors of actions (works).

Similar Papers
  • Dissertation
  • Citations6

Gerenciamento ágil de projetos: proposta e avaliação de método para gestão de escopo e tempo

  • Jan 01, 2009
  • Edivandro Carlos Conforto
  • Research Article
  • Citations3

Investigating Critical Success Factors for Effective Management of IT Projects

  • Jan 01, 2024
  • IEEE Access
  • Ansar Siddique +3
  • Research Article

Organization of Cross-functional (DevOps·PM) Teams in e-commerce: Processes for Teamwork

  • Jun 12, 2025
  • Asian Journal of Research in Computer Science
  • Ruslan Tsyganok
  • Research Article

New Methods of Project Management Based on Web Environment

  • Sep 20, 2024
  • Canadian Journal of Business and Information Studies
  • Research Article

Shifting to Integrated Solutions: Reconciling Innovation and Project Management

  • Sep 25, 2014
  • The Journal of Modern Project Management
  • Carlos Eduardo Yamasaki Sato
  • Research Article
  • Citations3

Effect of Technological Orientation on Project Management Process and Infrastructure Performance of RTA in UAE

  • Mar 17, 2022
  • Journal of International Business and Management
  • Abdalla Ahmed +3
  • Research Article

Supply Chain Integration for Collaborative Innovation Projects: Unraveling the Role of Project Complexity and Project Management Methods

  • Aug 04, 2025
  • Journal of Business Logistics
  • Andrea S Patrucco +2
  • Research Article

Web-based Construction Project Application Development with ReactJS, NestJS, and Agile Scrum

  • Jul 25, 2025
  • Journal of Emerging Information Systems and Business Intelligence (JEISBI)
  • Muhammad Zakia Avlach +1
  • Research Article
  • Citations4

Visible Project Management System for Highway Construction Based on 3D Virtual Reality and Information Technology

  • Sep 01, 2014
  • Advanced Materials Research
  • Hou Bing Zhong +1
  • Research Article

APPLICATION OF IT TECHNOLOGIES FOR PROJECT MANAGEMENT IN THE ENTERPRISE

  • Jan 01, 2025
  • Economics and Management
  • Volodymyr Patlay
  • Research Article

Международный бизнес-проект и компетентностный профиль команды управления проектом (часть 2)

  • Sep 30, 2021
  • Economic and Socio-Humanitarian Studies
  • S.P Oleynik
  • Research Article
  • Citations1

Determinants in Project Management and Change Processes in the Operations of an Organisation

  • Aug 26, 2021
  • WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
  • Beata Skowron-Grabowska
  • PDF
  • Research Article
  • Citations4

Using System Dynamics Method to Measure Project Management Performance of Local Government Agencies

  • Sep 23, 2022
  • Businesses
  • Carlos M Chang +4
  • Supplementary Content

Strategic project management concept for executing research and development projects in public research organisations in Nigeria : an empirical study

  • Jan 01, 2016
  • Liverpool John Moores University
  • Cu Ugonna
  • PDF
  • Research Article
  • Citations1

Use Effective Methods of Project Management Methodology by IPMA the Realization of Investment Projects

  • Feb 01, 2019
  • IOP Conference Series: Materials Science and Engineering
  • Jan Lojda
Cactus Communications logo

Copyright 2026 Cactus Communications. All rights reserved.