A STOCHASTIC PREDICTIVE CONTROL APPROACH TO PROJECT RISK MANAGEMENT

Abstract This work shows a control policy based on MPC and applied to project risk management. MPC has been applied due the properties that presents such as the easy constraint treatment or the extension to multivariable case. The control actions are the mitigation actions to execute in order to reduce the risk exposure. Stochastic variables have been introduced to model the uncertainties of risk impacts. Integer variables are involved in the optimization problem modelling the mitigation actions.