Nonlinear time/cost tradeoff models in project management

Deckro, Richard F.; Hebert, John E.; Verdini, William A.; Grimsrud, Per Henning; Venkateshwar, Satya

doi:10.1016/0360-8352(94)00199-w

Cited by 74 publications

(33 citation statements)

References 20 publications

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“…The discrete version requires specifying a set of discrete processing times and associated costs for each project activity, which is a different way to model nonlinearity. Convex [4] and quadratic [3] crashing functions have been studied and modeled. A review of the time-cost literature can be found in [2].…”

Section: B Relationships Between Quality Time and Costmentioning

confidence: 99%

Quality, time, and cost tradeoffs in project management decision making

Liberatore

Pollack-Johnson

2009

PICMET '09 - 2009 Portland International Conference on Management of Engineering &Amp; Technology

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This paper presents a mathematical programming model that allows quality to be explicitly considered in project planning and scheduling, while addressing the tradeoffs between quality, time, and cost. A quality function is used to represent the relationships between time, cost, and quality for individual tasks. The initial problem formulation maximizes the minimum quality (weakest link) over all project tasks, subject to bounds on cost and completion time. Using a construction example we show how this model can be adapted to generate quality level curves to illustrate the trade-offs among time, cost, and quality. These level curves can then be used by project managers to make project scheduling decisions that explicitly model and consider quality as well as time and cost, so that better and more appropriate decisions can be made for a particular situation. We also offer some managerial insights for project planning and scheduling that are derived from the analysis through improved understanding of these choices and tradeoffs.

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Section: B Relationships Between Quality Time and Costmentioning

confidence: 99%

Quality, time, and cost tradeoffs in project management decision making

Liberatore

Pollack-Johnson

2009

PICMET '09 - 2009 Portland International Conference on Management of Engineering &Amp; Technology

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“…Deckro et al [49] consider the continuous version of the time-cost tradeoff problem where activity durations are not limited to discrete values. A deadline is imposed, and the cost function is quadratic and increases with an increasing deviation of the actual duration from the given normal duration.…”

Section: Tradeoff Problemsmentioning

confidence: 99%

A survey of variants and extensions of the resource-constrained project scheduling problem

Hartmann

Briskorn

2010

European Journal of Operational Research

745

356

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“…Deckro et al (1995) consider a single resource and impose convex quadratic relationships between investment levels and task durations. The resulting quadratic program can be solved very efficiently.…”

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confidence: 99%

Multi-resource allocation in stochastic project scheduling

2008

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We propose a resource allocation model for project scheduling. Our model accommodates multiple resources and decision-dependent activity durations inspired by microeconomic theory. First, we elaborate a deterministic problem formulation. In a second stage, we enhance this model to account for uncertain problem parameters. Assuming that the first and second moments of these parameters are known, the stochastic model minimises an approximation of the value-at-risk of the project makespan. As a salient feature, our approach employs a scenario-free formulation which is based on normal approximations of the activity path durations. We extend our model to situations in which the moments of the random parameters are ambiguous and describe an iterative solution procedure. Extensive numerical results are provided.

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Nonlinear time/cost tradeoff models in project management

Cited by 74 publications

References 20 publications

Quality, time, and cost tradeoffs in project management decision making

Quality, time, and cost tradeoffs in project management decision making

A survey of variants and extensions of the resource-constrained project scheduling problem

Multi-resource allocation in stochastic project scheduling

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