A multi-objective approach for decision making during the project life cycle

Yossi Bukchin and Shai Rozenes

International Journal of Project Organisation and Management, 2011, vol. 3, issue 2, 184-203

Abstract: This paper is concerned with the multi-objective nature of projects and proposes a comprehensive methodology for the decision making process during the project life cycle. We address a situation in which several decisions are considered, where each may affect the major project objectives: time, cost and scope. The objectives are formally defined and a multi-objective, mixed-integer, linear-programming formulation for the decision selection is developed. We then provide the decision maker with a set of non-dominated alternatives, each associated with a subset of the feasible decisions.

Keywords: project scheduling; efficient frontiers; multi-objective optimisation; decision making; project life cycles; project objectives; project time; project costs; project scope; mixed-integer formulations; linear-programming formulations; non-dominated alternatives; feasible decisions; project organisation; project management. (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijpoma:v:3:y:2011:i:2:p:184-203

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