Abstract
This paper proposes a new framework in addressing time-cost trade-off problem (TCTP) under uncertainty. First critical path analysis is carried out based on developing a new interval-valued fuzzy (IVF)-program evaluation and review technique (PERT) approach. Then, non-conformance risks that influence on execution quality of activities are identified and evaluated based on a new approach that considers probability of risk along with impacts on time, cost, and performance. Then, a new mathematical model under IVF uncertainty is presented to decrease project total time while considering time, cost and quality loss cost that is determined in form of rework or modification cost. Finally, the approach categorizes the activities in three groups based on their level of criticality. Outcome of this methodology is a scheduling that addresses time, cost and quality trade-offs in addition to categorizing activities in different groups based on being on the critical path. Therefore, the project manager not only gets a scheduling based on the TCTP with considering quality loss cost but also has a knowledge of activities that require extra attentions. To show the steps of this methodology, an existing application from the literature is adopted and solved.
Highlights
Project management has a vital role in modern management
A new mathematical model under intervalvalued fuzzy (IVF) uncertainty is presented to crash project time while considering time, cost and quality loss cost trade-off that is based on Kim, Kang & Hwang (2012) study
Achieving a scheduling based on the developed program evaluation and review technique (PERT) method in the uncertain environment as well as identifying and addressing risks of non-conformance for activities are some of the outcomes of the presented method
Summary
Project management has a vital role in modern management. It is noted as the application of knowledge, skills, tools, and techniques in project activities to reach the project requirements A new analytical methodology is presented to address TCTPs while considering quality loss cost under uncertainty. This methodology gives the project manager a better understanding of project by analyzing the activities and showing the criticality of activities. The method applies the concepts of PERT, time-cost trade-off with considering quality loss cost, risk evaluation and interval-valued fuzzy sets (IVFSs) to enhance project management. –– A new methodology is presented that address project scheduling by considering timecost trade-off with considering quality loss cost, PERT and risk evaluation. In this paper a new approach of TCTP with considering quality loss cost is introduced under IVF uncertainty. Final section depicts the concluding remarks of this paper
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