Quantitative Schedule Risk Analysis (QSRA) is becoming an increasingly accepted methodology for forecasting the completion dates of projects. However not all time related challenges relate to the duration of tasks. Other examples include:
- Series production where work rate and interruptions matter e.g. concrete segment batching plant
- Rightsizing inventory so that stock is always available but storage & logistical costs are minimised
- Predicting component requirements based on likelihood of winning work
- Queue modelling where reducing queue times is a project objective
The chart to the above shows the outputs of a queue modelling exercise undertaken by into risk. The graph shows how the average queuing time rises exponentially as the full capacity of the system is reached.