Impact of Budget Uncertainty on Project Time-Cost Tradeoff

Yang, I‐Tung

doi:10.1109/tem.2005.844924

Cited by 45 publications

(28 citation statements)

References 35 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Leu et al [24] used fuzzy set theory to model the variations in the duration of activities due to changing environmental factors. Other types of uncertainties such as budget uncertainty have also been incorporated into project time-cost tradeoff [25]. Existing methods for sensitivity analysis of TCT profiles with regard to project uncertainties ignore the cost parameter of project activities [26], and do not include provision for nonlinear time-cost relationship of project activities.…”

Section: Sensitivity Analysis Of Tct Profilesmentioning

confidence: 99%

Project Scheduling: Time-Cost Tradeoff Problems

Srivastava

Pathak

Srivastava

2010

Computational Intelligence in Optimization

View full text Add to dashboard Cite

Abstract. We design and implement new methods to solve multiobjective time-cost tradeoff (TCT) problems in project scheduling using evolutionary algorithm and its hybrid variants with fuzzy logic, and artificial neural networks. We deal with a wide variety of TCT problems encountered in real world engineering projects. These include consideration of (i) nonlinear time-cost relationships of project activities, (ii) presence of a constrained resource apart from precedence constraints, and (iii) project uncertainties. We also present a hybrid meta heuristic (HMH) combining a genetic algorithm with simulated annealing to solve discrete version of multiobjective TCT problem. HMH is employed to solve two test cases of TCT. IntroductionThe project manager handles conflicting states to optimize various parameters of project scheduling process. Minimizing project completion time and project cost continues to be universally sought objectives, conflicting in nature, which is known as time-cost tradeoff (TCT) in project scheduling. TCT belongs to a class of multiobjective optimization (MOO) problem wherein there is no single optimum solution rather there exists a number of solutions, which are all optimal -Paretooptimal solutions -optimal TCT profile in project scheduling literature. The tradeoff between project time and cost gives project managers both challenges and opportunities to work out the best schedule to complete a project, and is of considerable economic importance. Projects are usually represented using networks, having nodes

show abstract

Section: Sensitivity Analysis Of Tct Profilesmentioning

confidence: 99%

Project Scheduling: Time-Cost Tradeoff Problems

Srivastava

Pathak

Srivastava

2010

Computational Intelligence in Optimization

View full text Add to dashboard Cite

show abstract

“…Unfortunately, finding the time-energy tradeoff is not an easy task in the mobile computing environment. The problem can be viewed as the time-cost tradeoff problem in the domain of Engineering Management (Yang, 2005). The time can be mapped as the latency of operation and the cost as energy consumption.…”

Section: Time-energy Tradeoffmentioning

confidence: 99%

A resource-awareness information extraction architecture on mobile grid environment

Chang

Shih

2010

Journal of Network and Computer Applications

View full text Add to dashboard Cite

“…Every project faces uncertainty and ambiguity (i.e., lack of knowledge) throughout its life cycle (Pavlak, 2004;Hallgreen and Maaninen-Olsson, 2005;Yang, 2005). It is the nature of projects-particularly R&D projects (Cummings and Teng, 2003).…”

Section: Background and Hypothesesmentioning

confidence: 99%

Evaluating Benefits and Challenges of Knowledge Transfer Across Projects

Landaeta

2008

Engineering Management Journal

109

View full text Add to dashboard Cite

The complexity of project-based environments (Russell, 1992) is rooted in the execution of multiple projects sequentially and/or concurrently (Nobeoka, 1995). Although the complexity of project-based environments imposes diffi culties in their operations, this complexity also offers the opportunity to continuously improve the organization's performance through knowledge (Kotnour, 2000). In their work on learning in project organizations, Gann and Salter stated the diffi culty of managing knowledge in project environments as: "While learning is generally cumulative, the discontinuous and temporary nature of project-based systems makes challenging the rapid assimilation of new knowledge throughout project-based organizations" (2000). The problem of managing knowledge for the projectbased organization is not only based on the fast assimilation of knowledge. Gann and Salter's statement points out only one of the possible scenarios that can result from the combinations among the nature of projects (Bacarini, 1987;Nobeoka, 1995; Gann and Satler, 2000;Loo, 2002;Kerzner, 2005), and the management of projects' knowledge.The nature of projects group a project's critical success factors in six categories (Tannenbaum et al., 1992): project team characteristics (e.g., available resources, time), project team members' characteristics (e.g., motivation), project tasks' characteristics (e.g., complexity), project team processes (e.g., communication), project management processes (e.g., leadership), and project work structure (e.g., norms).Knowledge management in projects includes the policies, tools, and knowledge processes that projects and project-based organizations can use to take advantage of the knowledge that is available within and outside projects (Kotnour, 1999). Knowledge processes that aid in the management of knowledge across projects include but are not limited to knowledge transfer, creation, assimilation, storage, organization, protection, application, validation, verifi cation, and identifi cation (Kotnour and Landaeta, 2005).Consequently, the relationship between the nature of projects and the management of projects' knowledge creates several combinations that lead to a high number of knowledge management scenarios in project-based organizations. The challenges for managers of projects and project-based organizations are to understand and address these complex relationships between knowledge management and the nature of projects in order to promote project and organizational learning. The demonstrated benefi ts that learning in projects brings to the performance and capabilities of a project-based organization (Nobeoka, 1995;Kotnour, 1999Kotnour, , 2000 impose on its leaders the necessity to understand how to successfully promote learning within and across projects (Kotnour, 1999(Kotnour, , 2000. The problem resides in the fact that many questions remain unanswered on Refereed research manuscript. Accepted by Associate Editor Abel. Abstract:The complex and unpredictable nature of projects generates serious cha...

show abstract

Impact of Budget Uncertainty on Project Time-Cost Tradeoff

Cited by 45 publications

References 35 publications

Project Scheduling: Time-Cost Tradeoff Problems

Project Scheduling: Time-Cost Tradeoff Problems

A resource-awareness information extraction architecture on mobile grid environment

Evaluating Benefits and Challenges of Knowledge Transfer Across Projects

Contact Info

Product

Resources

About