TY - EJOU
AU - Chassiakos, A. P.
AU - Samaras, C. I.
AU - Theodorakopoulos, D. D.
TI - An Integer Programming Method for CPM Time-Cost Analysis
T2 - Computer Modeling in Engineering \& Sciences
PY - 2000
VL - 1
IS - 4
SN - 1526-1506
AB - Time and cost to complete a project is an important tradeoff problem in project planning and control. Existing methods have not provided an accepted solution in terms of both accuracy and efficiency. In an attempt to improve the solution process, a method is presented for developing optimal project time-cost curves based on CPM analysis. Using activity succession information, project paths are developed and duration is calculated. Following that, duration is reduced in an optimal way employing integer programming. Two alternative formulations are proposed which lead to corresponding algorithms, a progressive duration reduction and a direct reduction to the desired level. The first approach leads to sub-optimal results but requires less computational effort than the second which, though, finds the optimal solution. The method has been successfully tested on a number of cases and results are presented to illustrate its application and demonstrate its merits.
KW - critical path method (CPM)
KW - integer programming
KW - project planning
KW - time-cost tradeoff
DO - 10.3970/cmes.2000.001.461