The Time/Cost Trade-off Problems

Gündüz Ulusoy and Öncü Hazır
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Gündüz Ulusoy: Sabancı University
Öncü Hazır: Rennes School of Business

Chapter Chapter 5 in An Introduction to Project Modeling and Planning, 2021, pp 141-165 from Springer

Abstract: 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.

Keywords: Direct project costs; Overhead/indirect project costs; Time/cost trade-off; Project crashing; Multi-mode project scheduling (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-61423-2_5

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DOI: 10.1007/978-3-030-61423-2_5

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