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Using a risk-based approach to project scheduling: A case illustration from semiconductor manufacturing

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  • Zafra-Cabeza, Ascensión
  • Ridao, Miguel A.
  • Camacho, Eduardo F.

Abstract

This paper introduces a risk-based optimization method to schedule projects. The method uses risk mitigation and optimal control techniques to minimize variables such as the project duration or the cost estimate at completion. Mitigation actions reduce the risk impacts that may affect the system. A model predictive control approach is used to determine the set of mitigation actions to be executed and the time in which they are taken. A real-life project in the field of semiconductor manufacturing has been taken as an example to show the benefits of the method in a deterministic case and a Monte Carlo simulation has also been carried out.

Suggested Citation

  • Zafra-Cabeza, Ascensión & Ridao, Miguel A. & Camacho, Eduardo F., 2008. "Using a risk-based approach to project scheduling: A case illustration from semiconductor manufacturing," European Journal of Operational Research, Elsevier, vol. 190(3), pages 708-723, November.
    • Handle: RePEc:eee:ejores:v:190:y:2008:i:3:p:708-723
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    References listed on IDEAS

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    Cited by:

    1. Bordley, Robert F. & Keisler, Jeffrey M. & Logan, Tom M., 2019. "Managing projects with uncertain deadlines," European Journal of Operational Research, Elsevier, vol. 274(1), pages 291-302.
    2. Mahsa Parsaei Motamed & Shahrooz Bamdad, 2022. "A multi-objective optimization approach for selecting risk response actions: considering environmental and secondary risks," OPSEARCH, Springer;Operational Research Society of India, vol. 59(1), pages 266-303, March.
    3. Zuo, Fei & Zio, Enrico & Xu, Yue, 2023. "Bi-objective optimization of the scheduling of risk-related resources for risk response," Reliability Engineering and System Safety, Elsevier, vol. 237(C).

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