In this paper, dynamic PERT networks with finite capacity of concurrent projects are expressed in the framework of networks of queues. In this investigation, it is assumed that the system capacity is finite and new projects are generated according to a Poisson process. There is only one server in every service station and the discipline of queue is FCFS (Fist Come, First Served). Each activity is performed independently in its corresponding service station with exponential distribution. For calculating the mean project completion time in dynamic PERT network with finite capacity, we first convert the network of queues into a stochastic network. Then, by constructing a proper finite-state continuous-time Markov model, a system of differential equations is created. to solve and find the manufacturing lead time distribution for any particular work, analytically. Finally, by using Little’s Theorem the mean project completion time is obtained.

Keywords: Project management, Network of queue, Markov Processes.

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