Fuzzy Cognitive Map to model project management problems

Project management is a complex process impacted by numerous factors either from the external environment and/or internal factors completely or partially under the project manager's control. Managing projects successfully involves a complex amalgamation of comprehensive, informed planning, dynamic assessment and analysis of changes in external and internal factors, and the development and communication of updated strategies over the life of the project. Project management involves the interaction and analysis of many systems and requires the continuous integration and evaluation of large amounts of information. Fuzzy Cognitive Maps (FCM) allow us to encode project management knowledge and experiential results to create a useful model of the interacting systems. This paper covers the representation and development of a construction project management FCM that provides an integrated view of the most important concepts affecting construction project management and risk management. This paper then presents the soft computing approach of FCM to project management (PM) modeling and analysis. The resulting PM-FCM models the interaction of internal and external factors and offers an abstract conceptual model of interacting concepts for construction project management application.