UBS

Event Chain Methodology

What is an Event Chain Methodology?

Event chain methodology is a schedule network analysis method that focuses on detecting and controlling occurrences (event chains) that have an impact on project timelines. Beyond the critical path method and critical chain project management, this is the next step.

In estimating and scheduling, the event chain approach helps to limit the effect of motivational and cognitive biases. It increases risk assessment accuracy and aids in the creation of more realistic risk-adjusted project schedules.

Event Chain Methodology is more of a statistical method that is based on 6 principles:

  • Moment of Risk and State of Activity¬†
  • Event Chains
  • Monte Carlo Simulations
  • Critical Event Chains
  • Performance Tracking with Event Chains
  • Event Chain Diagrams¬†

Also, See: Event Chain Diagram

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