IDEAS home Printed from https://ideas.repec.org/a/eee/ejores/v127y2000i2p239-251.html
   My bibliography  Save this article

Improving project cost estimation by taking into account managerial flexibility

Author

Listed:
  • Jorgensen, Trond
  • Wallace, Stein W.

Abstract

No abstract is available for this item.

Suggested Citation

  • Jorgensen, Trond & Wallace, Stein W., 2000. "Improving project cost estimation by taking into account managerial flexibility," European Journal of Operational Research, Elsevier, vol. 127(2), pages 239-251, December.
    • Handle: RePEc:eee:ejores:v:127:y:2000:i:2:p:239-251
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0377-2217(99)00484-1
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Salah E. Elmaghraby, 1967. "On the Expected Duration of PERT Type Networks," Management Science, INFORMS, vol. 13(5), pages 299-306, January.
    2. Salah E. Elmaghraby & Jerzy Kamburowski, 1992. "The Analysis of Activity Networks Under Generalized Precedence Relations (GPRs)," Management Science, INFORMS, vol. 38(9), pages 1245-1263, September.
    3. Demeulemeester, Erik L. & Herroelen, Willy S., 1996. "An efficient optimal solution procedure for the preemptive resource-constrained project scheduling problem," European Journal of Operational Research, Elsevier, vol. 90(2), pages 334-348, April.
    4. Demeulemeester, Erik L. & Herroelen, Willy S. & Elmaghraby, Salah E., 1996. "Optimal procedures for the discrete time/cost trade-off problem in project networks," European Journal of Operational Research, Elsevier, vol. 88(1), pages 50-68, January.
    5. Tavares, L. Valadares, 1994. "A stochastic model to control project duration and expenditure," European Journal of Operational Research, Elsevier, vol. 78(2), pages 262-266, October.
    6. Augustine O. Esogbue & Barry R. Marks, 1977. "Dynamic Programming Models of the Nonserial Critical Path-Cost Problem," Management Science, INFORMS, vol. 24(2), pages 200-209, October.
    7. George B. Kleindorfer, 1971. "Bounding Distributions for a Stochastic Acyclic Network," Operations Research, INFORMS, vol. 19(7), pages 1586-1601, December.
    8. A. Charnes & W. W. Cooper & G. L. Thompson, 1964. "Critical Path Analyses Via Chance Constrained and Stochastic Programming," Operations Research, INFORMS, vol. 12(3), pages 460-470, June.
    9. Herroelen, Willy S. & Van Dommelen, Patrick & Demeulemeester, Erik L., 1997. "Project network models with discounted cash flows a guided tour through recent developments," European Journal of Operational Research, Elsevier, vol. 100(1), pages 97-121, July.
    10. Arnold H. Buss & Meir J. Rosenblatt, 1997. "Activity Delay in Stochastic Project Networks," Operations Research, INFORMS, vol. 45(1), pages 126-139, February.
    11. Haugen, Kjetil K., 1996. "A Stochastic Dynamic Programming model for scheduling of offshore petroleum fields with resource uncertainty," European Journal of Operational Research, Elsevier, vol. 88(1), pages 88-100, January.
    12. D. G. Malcolm & J. H. Roseboom & C. E. Clark & W. Fazar, 1959. "Application of a Technique for Research and Development Program Evaluation," Operations Research, INFORMS, vol. 7(5), pages 646-669, October.
    13. Steve Phillips, Jr. & Mohamed I. Dessouky, 1977. "Solving the Project Time/Cost Tradeoff Problem Using the Minimal Cut Concept," Management Science, INFORMS, vol. 24(4), pages 393-400, December.
    14. Ulusoy, Gunduz & Ozdamar, Linet, 1996. "A framework for an interactive project scheduling system under limited resources," European Journal of Operational Research, Elsevier, vol. 90(2), pages 362-375, April.
    15. Lawrence, Stephen R. & Morton, Thomas E., 1993. "Resource-constrained multi-project scheduling with tardy costs: Comparing myopic, bottleneck, and resource pricing heuristics," European Journal of Operational Research, Elsevier, vol. 64(2), pages 168-187, January.
    16. James E. Falk & Joel L. Horowitz, 1972. "Critical Path Problems with Concave Cost-Time Curves," Management Science, INFORMS, vol. 19(4-Part-1), pages 446-455, December.
    17. John R. Birge & Marilyn J. Maddox, 1995. "Bounds on Expected Project Tardiness," Operations Research, INFORMS, vol. 43(5), pages 838-850, October.
    18. Tavares, L. Valadares & Antunes Ferreira, J. A. & Silva Coelho, J., 1998. "On the optimal management of project risk," European Journal of Operational Research, Elsevier, vol. 107(2), pages 451-469, June.
    19. Salewski, Frank & Schirmer, Andreas & Drexl, Andreas, 1997. "Project scheduling under resource and mode identity constraints: Model, complexity, methods, and application," European Journal of Operational Research, Elsevier, vol. 102(1), pages 88-110, October.
    20. Ramasesh, Ranga V. & Jayakumar, Maliyakal D., 1997. "Inclusion of flexibility benefits in discounted cash flow analyses for investment evaluation: A simulation/optimization model," European Journal of Operational Research, Elsevier, vol. 102(1), pages 124-141, October.
    21. James E. Kelley, 1961. "Critical-Path Planning and Scheduling: Mathematical Basis," Operations Research, INFORMS, vol. 9(3), pages 296-320, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kaut, Michal & Vaagen, Hajnalka & Wallace, Stein W., 2021. "The combined impact of stochastic and correlated activity durations and design uncertainty on project plans," International Journal of Production Economics, Elsevier, vol. 233(C).
    2. S Y Sohn & Y Kim & B T Kim, 2009. "Cost of ownership model for spare engines purchase for the Korean navy acquisition program," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(12), pages 1674-1682, December.
    3. Wiesemann, Wolfram & Kuhn, Daniel & Rustem, Berç, 2010. "Maximizing the net present value of a project under uncertainty," European Journal of Operational Research, Elsevier, vol. 202(2), pages 356-367, April.
    4. Constantin BRAN & Bogdan ȚIGĂNOAIA & Larisa GAVRILĂ & Sorin Cristian IONESCU, 2018. "Increasing Performance By Flexibile Management Of The Database," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 12, pages 101-109, December.
    5. Wolfram Wiesemann & Daniel Kuhn & Berç Rustem, 2012. "Multi-resource allocation in stochastic project scheduling," Annals of Operations Research, Springer, vol. 193(1), pages 193-220, March.
    6. Vaagen, Hajnalka & Kaut, Michal & Wallace, Stein W., 2017. "The impact of design uncertainty in engineer-to-order project planning," European Journal of Operational Research, Elsevier, vol. 261(3), pages 1098-1109.
    7. Pedro Godinho & João Paulo Costa, 2020. "A stochastic model and algorithms for determining efficient time–cost tradeoffs for a project activity," Operational Research, Springer, vol. 20(1), pages 319-348, March.
    8. Hazır, Öncü & Ulusoy, Gündüz, 2020. "A classification and review of approaches and methods for modeling uncertainty in projects," International Journal of Production Economics, Elsevier, vol. 223(C).
    9. Öncü Hazir & Gündüz Ulusoy, 2020. "A classification and review of approaches and methods for modeling uncertainty in projects," Post-Print hal-02898162, HAL.
    10. Sobel, Matthew J. & Szmerekovsky, Joseph G. & Tilson, Vera, 2009. "Scheduling projects with stochastic activity duration to maximize expected net present value," European Journal of Operational Research, Elsevier, vol. 198(3), pages 697-705, November.
    11. Paul, Anand & Gutierrez, Genaro, 2005. "Simple probability models for project contracting," European Journal of Operational Research, Elsevier, vol. 165(2), pages 329-338, September.
    12. Huang, Sun-Jen & Chiu, Nan-Hsing & Chen, Li-Wei, 2008. "Integration of the grey relational analysis with genetic algorithm for software effort estimation," European Journal of Operational Research, Elsevier, vol. 188(3), pages 898-909, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Brucker, Peter & Drexl, Andreas & Mohring, Rolf & Neumann, Klaus & Pesch, Erwin, 1999. "Resource-constrained project scheduling: Notation, classification, models, and methods," European Journal of Operational Research, Elsevier, vol. 112(1), pages 3-41, January.
    2. Wiesemann, Wolfram & Kuhn, Daniel & Rustem, Berç, 2010. "Maximizing the net present value of a project under uncertainty," European Journal of Operational Research, Elsevier, vol. 202(2), pages 356-367, April.
    3. Weglarz, Jan & Józefowska, Joanna & Mika, Marek & Waligóra, Grzegorz, 2011. "Project scheduling with finite or infinite number of activity processing modes - A survey," European Journal of Operational Research, Elsevier, vol. 208(3), pages 177-205, February.
    4. Bregman, Robert L., 2009. "A heuristic procedure for solving the dynamic probabilistic project expediting problem," European Journal of Operational Research, Elsevier, vol. 192(1), pages 125-137, January.
    5. Hartmann, Sönke & Briskorn, Dirk, 2010. "A survey of variants and extensions of the resource-constrained project scheduling problem," European Journal of Operational Research, Elsevier, vol. 207(1), pages 1-14, November.
    6. Hartmann, Sönke & Briskorn, Dirk, 2008. "A survey of variants and extensions of the resource-constrained project scheduling problem," Working Paper Series 02/2008, Hamburg School of Business Administration (HSBA).
    7. M. Vanhoucke, 2007. "An electromagnetic time/cost trade-off optimization in project scheduling," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/457, Ghent University, Faculty of Economics and Business Administration.
    8. Vanhoucke, Mario, 2005. "New computational results for the discrete time/cost trade-off problem with time-switch constraints," European Journal of Operational Research, Elsevier, vol. 165(2), pages 359-374, September.
    9. R L Bregman, 2009. "Preemptive expediting to improve project due date performance," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(1), pages 120-129, January.
    10. KIlIç, Murat & Ulusoy, Gündüz & Serifoglu, Funda Sivrikaya, 2008. "A bi-objective genetic algorithm approach to risk mitigation in project scheduling," International Journal of Production Economics, Elsevier, vol. 112(1), pages 202-216, March.
    11. A B Hafızoğlu & M Azizoğlu, 2010. "Linear programming based approaches for the discrete time/cost trade-off problem in project networks," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 61(4), pages 676-685, April.
    12. Sobel, Matthew J. & Szmerekovsky, Joseph G. & Tilson, Vera, 2009. "Scheduling projects with stochastic activity duration to maximize expected net present value," European Journal of Operational Research, Elsevier, vol. 198(3), pages 697-705, November.
    13. Nicole Megow & Rolf H. Möhring & Jens Schulz, 2011. "Decision Support and Optimization in Shutdown and Turnaround Scheduling," INFORMS Journal on Computing, INFORMS, vol. 23(2), pages 189-204, May.
    14. Hermans, Ben & Leus, Roel & Looy, Bart Van, 2023. "Deciding on scheduling, secrecy, and patenting during the new product development process: The relevance of project planning models," Omega, Elsevier, vol. 116(C).
    15. Illana Bendavid & Boaz Golany, 2009. "Setting gates for activities in the stochastic project scheduling problem through the cross entropy methodology," Annals of Operations Research, Springer, vol. 172(1), pages 259-276, November.
    16. Alessio Angius & András Horváth & Marcello Urgo, 2021. "A Kronecker Algebra Formulation for Markov Activity Networks with Phase-Type Distributions," Mathematics, MDPI, vol. 9(12), pages 1-22, June.
    17. Li, Xiaobo & Natarajan, Karthik & Teo, Chung-Piaw & Zheng, Zhichao, 2014. "Distributionally robust mixed integer linear programs: Persistency models with applications," European Journal of Operational Research, Elsevier, vol. 233(3), pages 459-473.
    18. Illana Bendavid & Boaz Golany, 2011. "Setting gates for activities in the stochastic project scheduling problem through the cross entropy methodology," Annals of Operations Research, Springer, vol. 189(1), pages 25-42, September.
    19. He, Zhengwen & Wang, Nengmin & Jia, Tao & Xu, Yu, 2009. "Simulated annealing and tabu search for multi-mode project payment scheduling," European Journal of Operational Research, Elsevier, vol. 198(3), pages 688-696, November.
    20. Kolisch, R. & Padman, R., 2001. "An integrated survey of deterministic project scheduling," Omega, Elsevier, vol. 29(3), pages 249-272, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ejores:v:127:y:2000:i:2:p:239-251. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eor .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.