Application of fuzzy mathematical programming to imprecise project management decisions

Application of fuzzy mathematical programming to imprecise project management decisions In real-world project management (PM) decisions, the input data and environmental coefficients are generally imprecise/fuzzy because of incompleteness and unavailability of relevant information over the project planning horizon. This work aims to present a fuzzy mathematical programming approach to solve imprecise PM decision problems with fuzzy goal and fuzzy cost coefficients. The designed PM decision model attempts to minimize total project costs with reference to direct costs, indirect costs, contractual penalty costs, duration of activities and the constraint of available budget. The proposed approach achieves greater computational efficiency by employing the simplified triangular fuzzy number to represent imprecise goal and cost coefficients, and provides a systematic framework that facilitates the decision-making process, enabling a decision maker to interactively modify the imprecise data and related parameters until a satisfactory solution is obtained. An industrial case is implemented to demonstrate the feasibility of applying the proposed approach to practical PM problems. The computational methodology developed in this work can easily be extended to any other situations and can handle the realistic PM decisions in fuzzy environments. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quality & Quantity Springer Journals

Application of fuzzy mathematical programming to imprecise project management decisions

Loading next page...
 
/lp/springer_journal/application-of-fuzzy-mathematical-programming-to-imprecise-project-jcCn74tsDc
Publisher
Springer Netherlands
Copyright
Copyright © 2011 by Springer Science+Business Media B.V.
Subject
Social Sciences; Methodology of the Social Sciences; Social Sciences, general
ISSN
0033-5177
eISSN
1573-7845
D.O.I.
10.1007/s11135-011-9460-y
Publisher site
See Article on Publisher Site

Abstract

In real-world project management (PM) decisions, the input data and environmental coefficients are generally imprecise/fuzzy because of incompleteness and unavailability of relevant information over the project planning horizon. This work aims to present a fuzzy mathematical programming approach to solve imprecise PM decision problems with fuzzy goal and fuzzy cost coefficients. The designed PM decision model attempts to minimize total project costs with reference to direct costs, indirect costs, contractual penalty costs, duration of activities and the constraint of available budget. The proposed approach achieves greater computational efficiency by employing the simplified triangular fuzzy number to represent imprecise goal and cost coefficients, and provides a systematic framework that facilitates the decision-making process, enabling a decision maker to interactively modify the imprecise data and related parameters until a satisfactory solution is obtained. An industrial case is implemented to demonstrate the feasibility of applying the proposed approach to practical PM problems. The computational methodology developed in this work can easily be extended to any other situations and can handle the realistic PM decisions in fuzzy environments.

Journal

Quality & QuantitySpringer Journals

Published: Mar 26, 2011

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 12 million articles from more than
10,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Unlimited reading

Read as many articles as you need. Full articles with original layout, charts and figures. Read online, from anywhere.

Stay up to date

Keep up with your field with Personalized Recommendations and Follow Journals to get automatic updates.

Organize your research

It’s easy to organize your research with our built-in tools.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve Freelancer

DeepDyve Pro

Price
FREE
$49/month

$360/year
Save searches from Google Scholar, PubMed
Create lists to organize your research
Export lists, citations
Read DeepDyve articles
Abstract access only
Unlimited access to over
18 million full-text articles
Print
20 pages/month
PDF Discount
20% off