FUZZY MULTI OBJECTIVE PROJECT SCHEDULING UNDER INFLATIONARY CONDITIONS

Fatemeh Azimi () and Fatemeh Fathallahi
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Fatemeh Azimi: Departmentof Mathematics, Qazvin Branch Islamic Azad University, Qazvin, Iran
Fatemeh Fathallahi: Faculty of Industrial Engineering K.N. Toosi University of Technology, Tehran, Iran

ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, 2016, vol. 50, issue 3, 337-350

Abstract: Project scheduling is a major area of project management and planning. Due to the increasing prices of goods in most countries during the project and lack of information related to each parameters and variables, using fuzzy sets under inflationary condition can be efficient. In this paper, fuzzy project scheduling when project’s revenues and costs are increased by different inflationary rate is considered. The duration of each project’s activity is assumed as a fuzzy number. Two objectives of the problem are to minimize the project duration and to maximize the net present value of the project. The nonlinear multi-objective model will be solved by one of the multi- objective decision making methods named LP-Metric method and Frank-Wolf algorithm as one of the nonlinear programming procedure. The solving approach will be explained in a numerical example and the computational results will be reported.

Keywords: Fuzzy sets; Inflation; Project scheduling; Makespan; NPV. (search for similar items in EconPapers)
JEL-codes: C44 E31 E40 (search for similar items in EconPapers)
Date: 2016
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