Optimising project performance: the triangular trade-off optimisation approach
by Baruch Keren; Yuval Cohen
International Journal of Engineering Management and Economics (IJEME), Vol. 3, No. 1/2, 2012

Abstract: It is generally accepted that the three major dimensions of project success are time, budget, and quality. Most of the research in project planning is focused on the time-cost trade-off, and only a few papers have considered the three dimensions together. This paper describes the evolution of formulations for optimising project time-cost and quality, and continues by developing a new, non-linear optimisation formulation that better reflects the triangular trade-off structure between time, budget, and quality. In particular, the Cobb-Douglas formula is adopted and its use is illustrated. The model is discussed, and the structure of the trade-off is analysed and illustrated.

Online publication date: Wed, 15-Apr-2015

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