THE OPTIMIZATION OF TIME AND COST PROCESS TECHNIQUE
The critical path method (CPM) and linear programming are two closely related operations research techniques. Some of their concepts are presented in this paper in order to review some recent modelling structures that have been particularly valuable in the analysis of project time-cost crashes probl...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Faculty of Economics in Osijek
2017-01-01
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| Series: | Ekonomski Vjesnik |
| Subjects: | |
| Online Access: | http://hrcak.srce.hr/file/282998 |
| Summary: | The critical path method (CPM) and linear programming are two closely related operations research techniques. Some of their concepts are presented in this paper in order to review some recent modelling structures that have been particularly valuable in the analysis of project time-cost crashes problems.</p><p>The activities underwent crashing of both the time and cost using linear programming. A simplified representation of a small project and a linear programming model were formulated to represent this system. In addition to being simple, the advantage of this method is that it is applicable to large networks. It allows for a shorter computational time at a lower cost, whereas robustness is increased. |
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| ISSN: | 0353-359X 1847-2206 |