ABSTRACT
This chapter describes the Markov model's three basic assumptions: the project is linear with no branches; approximately equal duration for each activity; and rework of activities. The second assumption of approximately equal duration for each activity also may not be practically possible. Regarding the third assumption on rework activities, if the duration of the rework is not approximately equal to the duration of the original activity, the duration of the rework can be represented as a percentage of the original model. A Markov model is a mathematical system characterized with the property of memoryless: the next state depends only on the current state and not on the sequence of events that precede it. It is used for describing systems that follow a chain of linked events. Where what happens next depends only on the current state of the system. Project risks change continuously due to the rapid changes in project environment.
