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The Bi-Criterial Approach to Project Cost and Schedule Buffers Sizing

In: New State of MCDM in the 21st Century

Author

Listed:
  • Paweł Błaszczyk

    (University of Silesia)

  • Tomasz Błaszczyk

    (University of Economics in Katowice)

  • Maria B. Kania

    (University of Silesia)

Abstract

The aim of this research was the trial of modelling and optimizing the time-cost trade-offs in project planning problem with taking into account the behavioral impact of performers’ (or subcontractors’) estimations of basic activity parameters. However, such a model must include quantitative measurements of budget and duration, so we proposed to quantify and minimize the apprehension of their underestimations. The base of the problem description contains both safe and reasonable amounts of work estimations and the influence factors matrix. We assumed also the pricing opportunity of performance improving. Theoretical considerations were examined in several examples solved in spreadsheet environment.

Suggested Citation

  • Paweł Błaszczyk & Tomasz Błaszczyk & Maria B. Kania, 2011. "The Bi-Criterial Approach to Project Cost and Schedule Buffers Sizing," Lecture Notes in Economics and Mathematical Systems, in: Yong Shi & Shouyang Wang & Gang Kou & Jyrki Wallenius (ed.), New State of MCDM in the 21st Century, chapter 0, pages 105-114, Springer.
    • Handle: RePEc:spr:lnechp:978-3-642-19695-9_9
    DOI: 10.1007/978-3-642-19695-9_9
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