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The Time/Cost Trade-off Problems

In: An Introduction to Project Modeling and Planning

Author

Listed:
  • Gündüz Ulusoy

    (Sabancı University)

  • Öncü Hazır

    (Rennes School of Business)

Abstract

While executing the project activities, it is often possible to reduce the duration of some of the activities leading to a reduction in the project makespan at the expense of additional costs. The resulting time/cost trade-off problem has been widely studied in the literature and is the focus of this Chapter. Direct and overhead/indirect project cost items are discussed, different time cost functions are introduced and used to define time-cost trade-off problems. In this context, project crashing, activity modes and multi-mode project scheduling are introduced. To solve the trade-off problems, we formulate mathematical models for well-known continuous and discrete time/cost trade-off problems.

Suggested Citation

  • Gündüz Ulusoy & Öncü Hazır, 2021. "The Time/Cost Trade-off Problems," Springer Texts in Business and Economics, in: An Introduction to Project Modeling and Planning, edition 1, chapter 0, pages 141-165, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-61423-2_5
    DOI: 10.1007/978-3-030-61423-2_5
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