Abstract

The purpose of this work is to adapt probabilistic modeling methods to time control and cost control of the investment and construction projects. The paper considered the possibility of application of Program Evaluation and Review Technique (PERT) for the time control of construction project, and the Earned Value Management has been proposed as well as the control method for the project cost control. The study revealed that in the first step is to improve the Program Evaluation and Review Technique for the control and management of construction projects, and to expand Earned Value Management to the possibility of taking into account the probabilistic character of the cost.