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A New Mathematical Approach based on Conic Quadratic Programming for the Stochastic Time-Cost Tradeoff Problem in Project Management
2013
International Journal of Industrial Engineering and Production Research
In this paper, we consider a stochastic Time-Cost Tradeoff Problem (TCTP) in PERT networks for project management, in which all activities are subjected to a linear cost function and assumed to be exponentially distributed. The aim of this problem is to maximize the project completion probability with a pre-known deadline to a predefined probability such that the required additional cost is minimized. A single path TCTP is constructed as an optimization problem with decision variables of
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