<s>
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
is	O
a	O
network	O
analysis	O
technique	O
that	O
is	O
focused	O
on	O
identifying	O
and	O
managing	O
events	O
and	O
relationship	O
between	O
them	O
(	O
event	B-Algorithm
chains	I-Algorithm
)	O
that	O
affect	O
project	O
schedules	O
.	O
</s>
<s>
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
is	O
an	O
extension	O
of	O
quantitative	O
project	O
risk	O
analysis	O
with	O
Monte	B-Algorithm
Carlo	I-Algorithm
simulations	I-Algorithm
.	O
</s>
<s>
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
tries	O
to	O
mitigate	O
the	O
effect	O
of	O
motivational	O
and	O
cognitive	O
biases	O
in	O
estimating	O
and	O
scheduling	B-Application
.	O
</s>
<s>
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
is	O
an	O
extension	O
of	O
traditional	O
Monte	B-Algorithm
Carlo	I-Algorithm
simulation	I-Algorithm
of	O
project	O
schedules	O
where	O
uncertainties	O
in	O
task	O
duration	O
and	O
costs	O
are	O
defined	O
by	O
statistical	B-General_Concept
distribution	I-General_Concept
.	O
</s>
<s>
Defining	O
uncertainties	O
using	O
statistical	B-General_Concept
distribution	I-General_Concept
provide	O
accurate	O
results	O
if	O
there	O
is	O
a	O
reliable	O
historical	O
data	O
about	O
duration	O
and	O
cost	O
of	O
similar	O
tasks	O
in	O
previous	O
projects	O
.	O
</s>
<s>
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
was	O
first	O
proposed	O
in	O
the	O
period	O
of	O
2002	O
–	O
2004	O
.	O
</s>
<s>
Event	B-Algorithm
Chain	I-Algorithm
Methodology	I-Algorithm
is	O
based	O
on	O
six	O
principles	O
and	O
has	O
a	O
number	O
of	O
outcomes	O
.	O
</s>
<s>
This	O
moment	O
,	O
when	O
an	O
event	O
occurs	O
,	O
in	O
most	O
cases	O
is	O
probabilistic	O
and	O
can	O
be	O
defined	O
using	O
statistical	B-General_Concept
distribution	I-General_Concept
.	O
</s>
<s>
Events	O
can	O
be	O
related	O
to	O
other	O
events	O
,	O
which	O
will	O
create	O
event	B-Algorithm
chains	I-Algorithm
.	O
</s>
<s>
These	O
event	B-Algorithm
chains	I-Algorithm
can	O
significantly	O
affect	O
the	O
course	O
of	O
the	O
project	O
.	O
</s>
<s>
To	O
define	O
event	B-Algorithm
chains	I-Algorithm
,	O
we	O
need	O
to	O
identify	O
a	O
"	O
sender	O
"	O
,	O
the	O
event	O
that	O
initiates	O
the	O
chain	O
of	O
events	O
.	O
</s>
<s>
Event	B-Algorithm
chain	I-Algorithm
diagram	I-Algorithm
is	O
a	O
visualization	O
that	O
shows	O
the	O
relationships	O
between	O
events	O
and	O
tasks	O
and	O
how	O
the	O
events	O
affect	O
each	O
other	O
.	O
</s>
<s>
Event	B-Algorithm
chains	I-Algorithm
diagrams	O
present	O
events	O
as	O
arrows	O
on	O
the	O
Gantt	O
charts	O
.	O
</s>
<s>
Event	B-Algorithm
chains	I-Algorithm
are	O
shown	O
as	O
lines	O
connecting	O
arrows	O
depicting	O
events	O
.	O
</s>
<s>
Event	B-Algorithm
chains	I-Algorithm
may	O
trigger	O
another	O
activity	O
.	O
</s>
<s>
In	O
this	O
case	O
event	B-Algorithm
chain	I-Algorithm
line	O
will	O
be	O
connected	O
with	O
the	O
beginning	O
of	O
activity	O
with	O
optional	O
arrow	O
.	O
</s>
<s>
Event	B-Algorithm
chains	I-Algorithm
may	O
trigger	O
a	O
group	O
of	O
activities	O
.	O
</s>
<s>
In	O
this	O
case	O
this	O
group	O
of	O
activities	O
will	O
be	O
surrounded	O
by	O
the	O
box	O
or	O
frame	O
and	O
event	B-Algorithm
chain	I-Algorithm
line	O
will	O
be	O
connected	O
to	O
the	O
corner	O
of	O
the	O
box	O
or	O
first	O
activity	O
within	O
a	O
frame	O
.	O
</s>
<s>
By	O
using	O
event	B-Algorithm
chain	I-Algorithm
diagrams	I-Algorithm
to	O
visualize	O
events	O
and	O
event	B-Algorithm
chains	I-Algorithm
,	O
the	O
modeling	O
and	O
analysis	O
of	O
risks	O
and	O
uncertainties	O
can	O
be	O
significantly	O
simplified	O
.	O
</s>
<s>
Once	O
events	O
and	O
event	B-Algorithm
chains	I-Algorithm
are	O
defined	O
,	O
quantitative	O
analysis	O
using	O
Monte	B-Algorithm
Carlo	I-Algorithm
simulation	I-Algorithm
can	O
be	O
performed	O
to	O
quantify	O
the	O
cumulative	O
effect	O
of	O
the	O
events	O
.	O
</s>
<s>
Probabilities	O
and	O
impacts	O
of	O
risks	O
assigned	O
to	O
activities	O
are	O
used	O
as	O
input	O
data	O
for	O
Monte	B-Algorithm
Carlo	I-Algorithm
simulation	I-Algorithm
of	O
the	O
project	O
schedule	O
.	O
</s>
<s>
In	O
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
,	O
risk	O
can	O
not	O
only	O
affect	O
schedule	O
and	O
cost	O
,	O
but	O
also	O
other	O
parameters	O
such	O
as	O
safety	O
,	O
security	O
,	O
performance	O
,	O
technology	O
,	O
quality	O
,	O
and	O
other	O
objectives	O
.	O
</s>
<s>
Monte	B-Algorithm
Carlo	I-Algorithm
simulation	I-Algorithm
provides	O
the	O
capability	O
,	O
through	O
sensitivity	O
analysis	O
,	O
to	O
identify	O
single	O
or	O
chains	O
of	O
events	O
.	O
</s>
<s>
These	O
chains	O
of	O
events	O
can	O
be	O
identified	O
by	O
analyzing	O
the	O
correlations	O
between	O
the	O
main	O
project	O
parameters	O
,	O
such	O
as	O
project	O
duration	O
or	O
cost	O
,	O
and	O
the	O
event	B-Algorithm
chains	I-Algorithm
.	O
</s>
<s>
Event	O
and	O
event	B-Algorithm
chain	I-Algorithm
ranking	O
is	O
performed	O
for	O
all	O
risk	O
categories	O
(	O
schedule-related	O
and	O
non-schedule	O
)	O
as	O
part	O
of	O
one	O
process	O
.	O
</s>
<s>
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
reduces	O
the	O
risk	O
probability	O
and	O
impact	O
automatically	O
based	O
on	O
the	O
percent	O
of	O
work	O
completed	O
.	O
</s>
<s>
This	O
chance	O
is	O
constantly	O
updated	O
as	O
a	O
result	O
of	O
the	O
Monte	B-Algorithm
Carlo	I-Algorithm
analysis	I-Algorithm
.	O
</s>
<s>
Event	B-Algorithm
chain	I-Algorithm
methodology	I-Algorithm
simplifies	O
modeling	O
of	O
these	O
scenarios	O
.	O
</s>
<s>
If	O
an	O
event	O
or	O
event	B-Algorithm
chain	I-Algorithm
occurs	O
during	O
the	O
course	O
of	O
a	O
project	O
,	O
it	O
may	O
require	O
some	O
risk	O
response	O
effort	O
.	O
</s>
<s>
The	O
solution	O
is	O
to	O
assign	O
the	O
response	O
plan	O
to	O
an	O
event	O
or	O
event	B-Algorithm
chain	I-Algorithm
.	O
</s>
