Considering budget limits in the time-cost-quality trade-off problem And determination of the most economical combination of crashing the time of activities In Critical Path methods networks (CPM)

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Nazari Ehsaneh; shadnoush nosratollah; SOHRABI TAHMOORES

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Paper Information

Journal: FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT) Year:2020 | Volume:10 | Issue:41 Page(s): 192-211

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Title

Considering budget limits in the time-cost-quality trade-off problem And determination of the most economical combination of crashing the time of activities In Critical Path methods networks (CPM)

Author(s)

Nazari Ehsaneh | shadnoush nosratollah | SOHRABI TAHMOORES | Issue Writer Certificate

Keywords

Critical path methodQ1

Time CrashingQ1

budgetQ2

time-cost trade offQ1

Quality of ActivitiesQ1

Abstract

Nowadays, one of the most important issues that projects-based companies need in order to better manage project portfolios and financial planning is managing project costs. In project cost management, using a set of techniques and principles for project and financial control, it is possible to examine the financial performance of each project in terms of its actual operating cost (actual cost) compared to the estimated cost for the work performed and the corrective solutions to reduce costs And put it under control. Since reducing the duration of activities by allocating more resources to each activity is possible but requires higher costs for the implementation of those activities, it should be noted that the hasty pursuit of activities can lead to a decrease in its quality level Therefore, in the process of compressing the time of activities, in addition to the cost index, the activity quality index should also be considered. In this paper, a mathematical model for project cost management based on the Critical path method approach is presented. Considering a specific figure under the project budget ceiling, two goals are to minimize the total cost of the project (the classical model) and aim to maximize the quality of the activities, simultaneously.

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APA: Copy

Nazari, Ehsaneh, shadnoush, nosratollah, & SOHRABI, TAHMOORES. (2020). Considering budget limits in the time-cost-quality trade-off problem And determination of the most economical combination of crashing the time of activities In Critical Path methods networks (CPM). FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT), 10(41 ), 192-211. SID. https://sid.ir/paper/396710/en

Vancouver: Copy

Nazari Ehsaneh, shadnoush nosratollah, SOHRABI TAHMOORES. Considering budget limits in the time-cost-quality trade-off problem And determination of the most economical combination of crashing the time of activities In Critical Path methods networks (CPM). FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT)[Internet]. 2020;10(41 ):192-211. Available from: https://sid.ir/paper/396710/en

IEEE: Copy

Ehsaneh Nazari, nosratollah shadnoush, and TAHMOORES SOHRABI, “Considering budget limits in the time-cost-quality trade-off problem And determination of the most economical combination of crashing the time of activities In Critical Path methods networks (CPM),” FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT), vol. 10, no. 41 , pp. 192–211, 2020, [Online]. Available: https://sid.ir/paper/396710/en

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