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Qualitative Evaluation of Knowledge Based Model of Project Time-Cost as Decision Making Support

Author

Listed:
  • Radek DOSKOČIL
  • Karel DOUBRAVSKÝ

    (Department of Informatics Faculty of Business and Management Brno University of Technology)

Abstract

An integral part of effective project management is the knowledge management. Knowledge analyses are based on deep information(equations)or shallow information (verbal description). The paper presents a quantitative evaluation of qualitative knowledge model. Qualitative quantifications are based on three words (increasing, constant, decreasing).Any qualitative model M has a discrete set of qualitative scenarios S. An algorithm is used to generate all possible transitions O among the set of S. A transitional graph T has as nodes scenarios S and as arcs transitions O. Any behaviour of the model M can be described by a sequence of scenarios.A tree R, which is sub-graph of the T graph and can be taken for any qualitative forecasting, is used to evaluate probabilities of different branches of the tree. The presented evaluation provides new knowledge analysis and its main advantage is that no numerical values are needed. The qualitative model shows a seven-dimensional project management problem.

Suggested Citation

  • Radek DOSKOČIL & Karel DOUBRAVSKÝ, 2017. "Qualitative Evaluation of Knowledge Based Model of Project Time-Cost as Decision Making Support," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 51(1), pages 263-280.
    • Handle: RePEc:cys:ecocyb:v:50:y:2017:i:1:p:263-280
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    References listed on IDEAS

    as
    1. Yossi Bukchin & Shai Rozenes, 2011. "A multi-objective approach for decision making during the project life cycle," International Journal of Project Organisation and Management, Inderscience Enterprises Ltd, vol. 3(2), pages 184-203.
    2. Karel Doubravsky & Mirko Dohnal, 2015. "Reconciliation of Decision-Making Heuristics Based on Decision Trees Topologies and Incomplete Fuzzy Probabilities Sets," PLOS ONE, Public Library of Science, vol. 10(7), pages 1-18, July.
    3. Omar Bentahar, 2015. "A sequential and concurrent mixed method research in project management," Post-Print hal-01697550, HAL.
    4. Arora Siddharth & Little Max A. & McSharry Patrick E., 2013. "Nonlinear and nonparametric modeling approaches for probabilistic forecasting of the US gross national product," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 17(4), pages 395-420, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    equation less model; quantitative evaluation; qualitative tree; decision support; knowledge management; project management.;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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