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http://dx.doi.org/10.7737/JKORMS.2013.38.2.025

Project Time-Cost Tradeoff Problem with Milestones under an Uncertain Processing Time  

Choi, Byung-Cheon (Department of Business Administration, Chungnam National University)
Chung, Jibok (Department of Business Administration, Daejeon University)
Publication Information
Journal of the Korean Operations Research and Management Science Society / v.38, no.2, 2013 , pp. 25-42 More about this Journal
Abstract
We consider a project time-cost tradeoff problem with two milestones, where one of the jobs has an uncertain processing time. Unless each milestone is completed on time, some penalty cost may be imposed. However, the penalty costs can be avoided by compressing the processing times of some jobs, which requires additional resources or costs. The objective is to minimize the expected total costs subject to the constraint on the expected project completion time. We show that the problem can be solved in polynomial time if the precedence graph of a project is a chain.
Keywords
Time-Cost Tradeoff; Milestone; Uncertain Job;
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