Correlation in Projects

  • Ivan Damnjanovic
  • Kenneth Reinschmidt
Part of the Risk, Systems and Decisions book series (RSD)


In this chapter we extend our discussion on the assumption of statistical independence among the work packages and provide the theoretical justification why such assumption can lead to poor results. We also provide an overview of autoregressive models and the examples of how such models can be applied to forecasting of project outcomes and ultimately risk assessment and management.


Statistical independence Correlation Autoregressive models 


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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • Ivan Damnjanovic
    • 1
  • Kenneth Reinschmidt
    • 2
  1. 1.Texas A&M UniversityCollege StationUSA
  2. 2.College StationUSA

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