New fuzzy models for time-cost trade-off problem |
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Authors: | Hua Ke Weimin Ma Xin Gao Weihua Xu |
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Institution: | (1) School of Economics and Management, University of Science and Technology Beijing, Beijing, 100083, China |
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Abstract: | The time-cost trade-off problem is a specific type of the project scheduling problem which studies how to modify project activities
so as to achieve the trade-off between the completion time and the project cost. In real projects, the trade-off between the
project cost and the completion time, and the uncertainty of the environment are both considerable aspects for managers. In
this paper, three new fuzzy time-cost trade-off models are proposed, in which credibility theory is applied to describe the
uncertainty of activity duration times. A searching method by integrating fuzzy simulation and genetic algorithm is produced
to search the quasi-optimal schedules under some decision-making criteria. The purpose of the paper is to reveal how to obtain
the optimal balance of the completion time and the project cost in fuzzy environments. |
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Keywords: | |
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