Published in

IGI Global, International Journal of Information Technology Project Management, 1(5), p. 90-103, 2014

DOI: 10.4018/ijitpm.2014010108

Civil and Environmental Engineering: Concepts, Methodologies, Tools, and Applications, p. 1473-1486

DOI: 10.4018/978-1-4666-9619-8.ch067

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Fuzzy Based Project Time-Cost Optimization Using Simulated Annealing Search Technique:

Journal article published in 1970 by Khan M.-D. Ariful Haque, M. Ahsan Akhtar Hasin
This paper is made freely available by the publisher.
This paper is made freely available by the publisher.

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Abstract

The Project time-cost optimization is inherently a complex task. Because of various kinds of uncertainties, such as weather, productivity level, inflation, human factors etc. during project execution process, time and cost of each activity may vary significantly. The complexity multiplies several folds when the operational times are not deterministic, rather fuzzy in nature. Therefore, deterministic models for time-cost optimization are not yet efficient. It is very difficult to find the exact solution of savings in both time and cost. To make such problems realistic, triangular fuzzy numbers and the concept of a-cut method in fuzzy logic theory are employed to model the problem. Because of NP-hard nature of the project scheduling problem, this paper develops a simple approach with Simulated Annealing (SA) based searching technique. The proposed model leads the decision makers to choose the desired solution under different values of a-cut. Finally, taking a real project, the performance of SA has been tested.