Dynamically allocating expediting funds in projects with schedule uncertainty Online publication date: Sun, 10-May-2009
by Robert L. Bregman
European J. of Industrial Engineering (EJIE), Vol. 3, No. 3, 2009
Abstract: When large-scale projects have tasks with uncertain durations, it is often necessary to expedite tasks in order to improve the probability of completing the project before a fixed deadline. Whereas traditional project scheduling tools focus managerial attention on tasks that comprise the longest path(s) through a project network, tasks with uncertain durations on other paths may ultimately delay the completion of the project. In addition, the status of a project schedule can vary over time as tasks are completed (early or late) and new information concerning future tasks becomes available. This research introduces and evaluates a matrix-based procedure for allocating expediting funds relative to the traditional deterministic approach and a method based on task Criticality Indices (CIs). The results from a large simulation experiment show this new matrix-based procedure to be the preferred method for allocating expediting funds in order to manage schedule risks over the life of a project. [Received 15 August 2008; Revised 15 February 2009; Accepted 18 February 2009]
Online publication date: Sun, 10-May-2009
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the European J. of Industrial Engineering (EJIE):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email email@example.com