Title: A multi-objective approach for decision making during the project life cycle

Authors: Yossi Bukchin, Shai Rozenes

Addresses: Department of Industrial Engineering, Faculty of Engineering, Tel-Aviv University, Tel-Aviv 69978, Israel. ' Department of Industrial Engineering and Management, School of Engineering, Ruppin Academic Centre, Emek Hefer, 40250, Israel

Abstract: This paper is concerned with the multi-objective nature of projects and proposes a comprehensive methodology for the decision making process during the project life cycle. We address a situation in which several decisions are considered, where each may affect the major project objectives: time, cost and scope. The objectives are formally defined and a multi-objective, mixed-integer, linear-programming formulation for the decision selection is developed. We then provide the decision maker with a set of non-dominated alternatives, each associated with a subset of the feasible decisions.

Keywords: project scheduling; efficient frontiers; multi-objective optimisation; decision making; project life cycles; project objectives; project time; project costs; project scope; mixed-integer formulations; linear-programming formulations; non-dominated alternatives; feasible decisions; project organisation; project management.

DOI: 10.1504/IJPOM.2011.039820

International Journal of Project Organisation and Management, 2011 Vol.3 No.2, pp.184 - 203

Received: 08 Feb 2010
Accepted: 18 Jun 2010
Published online: 14 Jan 2015 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article