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Correlation in Projects

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

Abstract

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.

Keywords

Statistical independence Correlation Autoregressive models 

References

  1. Hamilton JD (1994) Time series analysis. Princeton University Press, PrincetonzbMATHGoogle Scholar
  2. Walpole RE, Myers RH, Myers SL, Ye K (1993) Probability and statistics for engineers and scientists. Macmillan, New YorkzbMATHGoogle Scholar

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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