IDEAS home Printed from https://ideas.repec.org/h/spr/isochp/978-1-4614-9056-2_8.html
   My bibliography  Save this book chapter

Scheduling and Financial Planning in Stochastic Activity Networks

In: Essays in Production, Project Planning and Scheduling

Author

Listed:
  • Bajis M. Dodin

    (University of California)

  • Abdelghani A. Elimam

    (American University)

Abstract

Stochastic Activity Networks (SANs) deal with projects where the required duration or resources for some or all activities are given as random variables characterized by their own probability distribution functions (pdfs). Managing a SAN project requires dealing with several important issues. One of the primary issues is the determination of the optimal project financial plan for a selected planned budget (PB) and the corresponding project schedule and completion time. In this chapter, we analyze the impact of the stochastic variations of the renewable and nonrenewable resources required by each activity on the cost and the duration of the project. The investigation resulted in developing an analytical approach for determining the probability density functions of the project cost and duration that can be used in financial planning and scheduling of stochastic projects. A linear programming model was also developed to distribute the resulting project budget over its activities while minimizing the overall project completion time. An example SAN project is provided to illustrate the validity and merit of the approach.

Suggested Citation

  • Bajis M. Dodin & Abdelghani A. Elimam, 2014. "Scheduling and Financial Planning in Stochastic Activity Networks," International Series in Operations Research & Management Science, in: P. Simin Pulat & Subhash C. Sarin & Reha Uzsoy (ed.), Essays in Production, Project Planning and Scheduling, edition 127, chapter 8, pages 183-201, Springer.
    • Handle: RePEc:spr:isochp:978-1-4614-9056-2_8
    DOI: 10.1007/978-1-4614-9056-2_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:spr:isochp:978-1-4614-9056-2_8. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.