Time-cost trade-off via optimal control theory in Markov PERT networks |
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Authors: | Amir Azaron Hideki Katagiri Masatoshi Sakawa |
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Affiliation: | (1) Department of Industrial Engineering, Faculty of Engineering, University of Bu-Ali-Sina, Hamadan, Iran;(2) Department of Industrial Engineering, Dalhousie University, Halifax, Nova Scotia, Canada;(3) Graduate School of Engineering, Hiroshima University, Kagamiyama 1-4-1, Higashi-Hiroshima, Hiroshima 739-8527, Japan |
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Abstract: | We develop a new analytical model for the time-cost trade-off problem via optimal control theory in Markov PERT networks. It is assumed that the activity durations are independent random variables with generalized Erlang distributions, in which the mean duration of each activity is a non-increasing function of the amount of resource allocated to it. Then, we construct a multi-objective optimal control problem, in which the first objective is the minimization of the total direct costs of the project, in which the direct cost of each activity is a non-decreasing function of the resources allocated to it, the second objective is the minimization of the mean of project completion time and the third objective is the minimization of the variance of project completion time. Finally, two multi-objective decision techniques, viz, goal attainment and goal programming are applied to solve this multi-objective optimal control problem and obtain the optimal resources allocated to the activities or the control vector of the problem |
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Keywords: | Project management Multiple objective programming Optimal control theory Markov processes |
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