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Kirytopoulos, K., Diamantas, V. and Leopoulos, V. 2008, 'Defining project risk management efficiency through simulation', Proceedings of the Future Business Technology Conference (FUBUTEC 2008), The European Simulation Society, Porto 9-11 April, 58-62.

Abstract: Project risk management efficiency is an important factor for project success. However, the traditional project control techniques do not incorporate project risk management evaluation. Such a technique, addressing the project objective of time, is proposed in this paper, based on the use of stochastic S-curves (SS-curves) and Monte Carlo simulation. Stochastic S-curves provide probability distributions for the time values required to complete the project at every selected report point. Additionally, a new evaluation graph, based in quality control graphs, is presented in order to provide a clear view of the efficiency of the project risk management process to the project manager.