Multi-objective time–cost trade-off in dynamic PERT networks using an interactive approach |
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Authors: | Amir Azaron Reza Tavakkoli-Moghaddam |
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Affiliation: | aDepartment of Computer Science, Cork Constraint Computation Centre, University College Cork, Cork, Ireland;bDepartment of Industrial Engineering, Faculty of Engineering, University of Tehran, Tehran, Iran |
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Abstract: | We develop a multi-objective model for the time–cost trade-off problem in a dynamic PERT network using an interactive approach. The activity durations are exponentially distributed random variables and the new projects are generated according to a renewal process and share the same facilities. Thus, these projects cannot be analyzed independently. This dynamic PERT network is represented as a network of queues, where the service times represent the durations of the corresponding activities and the arrival stream to each node follows a renewal process. At the first stage, we transform the dynamic PERT network into a proper stochastic network and then compute the project completion time distribution by constructing a continuous-time Markov chain. At the second stage, the time–cost trade-off problem is formulated as a multi-objective optimal control problem that involves four conflicting objective functions. Then, the STEM method is used to solve a discrete-time approximation of the original problem. Finally, the proposed methodology is extended to the generalized Erlang activity durations. |
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Keywords: | Multiple objective programming Queueing Project management and scheduling Markov processes Optimal control |
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