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Bounds on Expected Project Tardiness

Author

Listed:
  • John R. Birge

    (University of Michigan, Ann Arbor, Michigan)

  • Marilyn J. Maddox

    (Ford Motor Company, Dearborn, Michigan)

Abstract

A frequent goal in scheduling projects and production operations is determining the financial impact of project duration or production lead time. This paper considers net project value effects that increase proportionally to time in excess of a deadline. New bounds on the expected value of these tardiness costs are given. The bounds provide robust measurements without requiring extensive assumptions about activity distributions.

Suggested Citation

  • John R. Birge & Marilyn J. Maddox, 1995. "Bounds on Expected Project Tardiness," Operations Research, INFORMS, vol. 43(5), pages 838-850, October.
    • Handle: RePEc:inm:oropre:v:43:y:1995:i:5:p:838-850
    DOI: 10.1287/opre.43.5.838
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    Citations

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    Cited by:

    1. Jorgensen, Trond & Wallace, Stein W., 2000. "Improving project cost estimation by taking into account managerial flexibility," European Journal of Operational Research, Elsevier, vol. 127(2), pages 239-251, December.
    2. Ho-Yin Mak & Ying Rong & Jiawei Zhang, 2015. "Appointment Scheduling with Limited Distributional Information," Management Science, INFORMS, vol. 61(2), pages 316-334, February.
    3. Li, Xiaobo & Natarajan, Karthik & Teo, Chung-Piaw & Zheng, Zhichao, 2014. "Distributionally robust mixed integer linear programs: Persistency models with applications," European Journal of Operational Research, Elsevier, vol. 233(3), pages 459-473.
    4. Vo[ss], Stefan & Witt, Andreas, 2007. "Hybrid flow shop scheduling as a multi-mode multi-project scheduling problem with batching requirements: A real-world application," International Journal of Production Economics, Elsevier, vol. 105(2), pages 445-458, February.
    5. Karthik Natarajan & Dongjian Shi & Kim-Chuan Toh, 2014. "A Probabilistic Model for Minmax Regret in Combinatorial Optimization," Operations Research, INFORMS, vol. 62(1), pages 160-181, February.
    6. Pieter Kleer & Johan van Leeuwaarden, 2022. "Optimal Stopping Theory for a Distributionally Robust Seller," Papers 2206.02477, arXiv.org, revised Jun 2022.
    7. Xuan Vinh Doan & Karthik Natarajan, 2012. "On the Complexity of Nonoverlapping Multivariate Marginal Bounds for Probabilistic Combinatorial Optimization Problems," Operations Research, INFORMS, vol. 60(1), pages 138-149, February.
    8. Davaadorjin Monhor, 2011. "A new probabilistic approach to the path criticality in stochastic PERT," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 19(4), pages 615-633, December.

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