Development of a Next-Generation, Simulation-Based Project Management Tool

Most project management (PM) tools on the market today use some type of PERT and/or CPM methodology as its primary underlying methodology. PERT (Program Evaluation and Review Technique) was invented by the U.S. Navy in the 1950''''''''''''''''s to manage the Polaris submarine missile program. CPM (Critical Path Method) was invented about the same time in the private sector. These two approaches are synonymous and are often interchanged or even collectively called PERT/CPM. To date, improvements to PM tools have been evolutionary and not revolutionary. PM tools are still based on the PERT/CPM approach. The improvements that occur with eaach round of new PM tools are merely interface "bells and whistles" (e.g., better tracking of resources, uploading from spreadsheets) or perhaps enabling the tool to be used over the internet. Unfortunately, a 50-year old methodology delivered over the internet is still a 50-year old methodology. The purpose of this research effort is two-fold: 1. To demonstrate that common management decision-making processes can be incorporated into a simulation model of a project, and 2. To prove that incorporation of these management activities into a PM tool is a superior approach to current PERT/CPM methods.