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Value analysis planning with goal programming

Author

Listed:
  • Marc J. Schniederjans

    (University of Nebraska-Lincoln)

  • Dara Schniederjans

    (The University of Rhode Island)

  • Qing Cao

    (Texas Tech University)

Abstract

This paper presents a model to support planning decisions in the engineering methodology referred to as value analysis. A goal programming model incorporating elements of critical path method and concurrent engineering is proposed as a means to augment the planning of value analysis projects. The modeling approach builds and extends prior goal programming research by uniquely incorporating both timing and cost information to ease modeling complexity and reveal scheduling resource tradeoffs. An illustrative example is presented to demonstrate the modeling approach informational efficacy.

Suggested Citation

  • Marc J. Schniederjans & Dara Schniederjans & Qing Cao, 2017. "Value analysis planning with goal programming," Annals of Operations Research, Springer, vol. 251(1), pages 367-382, April.
    • Handle: RePEc:spr:annopr:v:251:y:2017:i:1:d:10.1007_s10479-015-1882-9
    DOI: 10.1007/s10479-015-1882-9
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    References listed on IDEAS

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    1. Sudhir Nanda & Parag Pendharkar, 2001. "Linear models for minimizing misclassification costs in bankruptcy prediction," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 10(3), pages 155-168, September.
    2. S Dowlatshahi, 2001. "Product life cycle analysis: a goal programming approach," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 52(11), pages 1201-1214, November.
    3. Amir Azaron & Hideki Katagiri & Masatoshi Sakawa, 2007. "Time-cost trade-off via optimal control theory in Markov PERT networks," Annals of Operations Research, Springer, vol. 150(1), pages 47-64, March.
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