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The Bi-Criterial Approach to Project Cost and Schedule Buffers Sizing

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New State of MCDM in the 21st Century

Part of the book series: Lecture Notes in Economics and Mathematical Systems ((LNE,volume 648))

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Abstract

The aim of this research was the trial of modelling and optimizing the time-cost trade-offs in project planning problem with taking into account the behavioral impact of performers’ (or subcontractors’) estimations of basic activity parameters. However, such a model must include quantitative measurements of budget and duration, so we proposed to quantify and minimize the apprehension of their underestimations. The base of the problem description contains both safe and reasonable amounts of work estimations and the influence factors matrix. We assumed also the pricing opportunity of performance improving. Theoretical considerations were examined in several examples solved in spreadsheet environment.

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References

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Author information

Authors and Affiliations

  1. Institute of Mathematics, University of Silesia, ul. Bankowa 14, 40-007, Katowice, Poland

    Paweł Błaszczyk & Maria B. Kania

  2. University of Economics in Katowice, ul. 1 Maja 50, 40-287, Katowice, Poland

    Tomasz Błaszczyk

Authors
  1. Paweł Błaszczyk
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  2. Tomasz Błaszczyk
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  3. Maria B. Kania
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Corresponding author

Correspondence to Paweł Błaszczyk .

Editor information

Editors and Affiliations

  1. Research Cntr on Fict. Econ. & Data Sci., Chinese Academy of Sciences, Zhongguancun East Road, No 80 Building 6, Room 203, Beijing, 10090, China, People's Republic

    Yong Shi

  2. College of Information Science and Technology, University of Nebraska at Omaha, Omaha, NE 68182, USA

    Yong Shi

  3. Academy of Mathematics and, Chinese Academy of Sciences, Zhonguancun East Road 55Haidian, Beijing, NE, 100190, China, People's Republic

    Shouyang Wang

  4. School of Management and Economics, University of Electr. Science & Technol., Zhonguancun East Road No. 55, Haidian, Chengdu, 610054, China, People's Republic

    Gang Kou PhD

  5. Aalto University School of Economics, 21210, 00076, Aalto, Finland

    Jyrki Wallenius

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Błaszczyk, P., Błaszczyk, T., Kania, M.B. (2011). The Bi-Criterial Approach to Project Cost and Schedule Buffers Sizing. In: Shi, Y., Wang, S., Kou, G., Wallenius, J. (eds) New State of MCDM in the 21st Century. Lecture Notes in Economics and Mathematical Systems, vol 648. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-19695-9_9

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