Abstract
M.Ing. (Engineering Management)
Railways have been used throughout history for the transportation of goods. Even though the inception of rail improved civilization, due to its inefficiencies, road transport is dominating the freight and logistics industry. Company A, which has the largest market share in rail has embarked on projects in an attempt to improve rail efficiencies by moving more volumes of freight timeously.
Most of the projects of Company A have failed largely due to the poor planning of the projects in the feasibility stages. Most of the planning schedules are overoptimistic and thus unreliable.
The scope of this study is to investigate the way in which planning schedules of Company A are developed by undertaking a schedule risk analysis and using Monte Carlo simulation to validate the schedule.
If projects of Company A can be planned better, using schedule risk analysis, projects can become more successful in terms of delivering projects on time and then execute the projects on time.