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New fuzzy models for time-cost trade-off problem

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Abstract

The time-cost trade-off problem is a specific type of the project scheduling problem which studies how to modify project activities so as to achieve the trade-off between the completion time and the project cost. In real projects, the trade-off between the project cost and the completion time, and the uncertainty of the environment are both considerable aspects for managers. In this paper, three new fuzzy time-cost trade-off models are proposed, in which credibility theory is applied to describe the uncertainty of activity duration times. A searching method by integrating fuzzy simulation and genetic algorithm is produced to search the quasi-optimal schedules under some decision-making criteria. The purpose of the paper is to reveal how to obtain the optimal balance of the completion time and the project cost in fuzzy environments.

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Authors and Affiliations

  1. School of Economics and Management, Tongji University, 200092, Shanghai, China

    Hua Ke, Weimin Ma & Weihua Xu

  2. School of Mathematics and Physics, North China Electric Power University, 102206, Beijing, China

    Xin Gao

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  1. Hua Ke
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  2. Weimin Ma
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  3. Xin Gao
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  4. Weihua Xu
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Correspondence to Hua Ke.

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Ke, H., Ma, W., Gao, X. et al. New fuzzy models for time-cost trade-off problem. Fuzzy Optim Decis Making 9, 219–231 (2010). https://doi.org/10.1007/s10700-010-9076-z

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