IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

The Use of Cost and Time in Project Decision Trees: A model and an application

Listed author(s):
  • Pedro Godinho


    (Faculty of Economics, University of Coimbra)

  • João Paulo Costa


    (Faculty of Economics, University of Coimbra)

In this paper we present a useful bicriteria model for project analysis based on decision trees, and an application of the model to a production planning problem. We start by presenting a model that allows the use of time and cost in project analysis. This model is easy to use, and it can be applied to a large number of real-life situations when the main objectives are the minimisation of cost and the minimisation of time. The construction of the decision trees for this model may require large computational times, and thus become impracticable. We deal with this problem in two ways: first, we define an algorithm for generating the strategies, and then we introduce an error parameter, which allows us to avoid generating all the strategies that are very close to each other. Finally, we apply the model to a production planning problem. We define the problem, use the algorithm to identify the efficient strategies and analyse the results.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Article provided by Faculty of Economics, University of Coimbra in its journal Notas Económicas.

Volume (Year): (2004)
Issue (Month): 20 (December)
Pages: 145-161

in new window

Handle: RePEc:gmf:journl:y:2004:i:20:p:145-161
Contact details of provider: Postal:
Av. Dias da Silva, 165, 3004-512 COIMBRA

Phone: + 351 239 790 500
Fax: + 351 239 40 35 11
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:gmf:journl:y:2004:i:20:p:145-161. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ana Seiça)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.