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Robust Optimization for the Discrete Time-Cost Tradeoff Problem with Cost Uncertainty

In: Handbook on Project Management and Scheduling Vol. 2

Author

Listed:
  • Öncü Hazır

    (TED University)

  • Mohamed Haouari

    (Qatar University)

  • Erdal Erel

    (Bilkent University)

Abstract

Projects are subject to various sources of uncertainty that hamper reaching project targets; hence, it is crucial importance to use effective approaches to generate robust project schedules, which are less vulnerable to disruptions caused by uncontrollable factors. In this vein, this chapter examines analytical models and algorithms of robust multi-mode project scheduling, specifically, the robust discrete time-cost tradeoff problem (DTCTP). The models and algorithms presented in this chapter can support project managers from a wide range of industries in scheduling activities to minimize deviations from project goals. Furthermore, some surrogate measures that aim at providing an accurate estimate of the schedule robustness are developed and related experimental results are presented. Finally, some potential research areas are proposed and discussed.

Suggested Citation

  • Öncü Hazır & Mohamed Haouari & Erdal Erel, 2015. "Robust Optimization for the Discrete Time-Cost Tradeoff Problem with Cost Uncertainty," International Handbooks on Information Systems, in: Christoph Schwindt & Jürgen Zimmermann (ed.), Handbook on Project Management and Scheduling Vol. 2, edition 127, chapter 0, pages 865-874, Springer.
    • Handle: RePEc:spr:ihichp:978-3-319-05915-0_9
    DOI: 10.1007/978-3-319-05915-0_9
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    Citations

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    Cited by:

    1. Hartmann, Sönke & Briskorn, Dirk, 2022. "An updated survey of variants and extensions of the resource-constrained project scheduling problem," European Journal of Operational Research, Elsevier, vol. 297(1), pages 1-14.
    2. Öncü Hazir & Gündüz Ulusoy, 2020. "A classification and review of approaches and methods for modeling uncertainty in projects," Post-Print hal-02898162, HAL.
    3. Seyed Hossein Razavi Hajiagha & Hannan Amoozad Mahdiraji & Maryam Behnam & Boshra Nekoughadirli & Rohit Joshi, 2022. "A scenario-based robust time–cost tradeoff model to handle the effect of COVID-19 on supply chains project management," Operations Management Research, Springer, vol. 15(1), pages 357-377, June.
    4. 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).

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