Time-cost trade-off problem under uncertainty incorporating multi-objective genetic algorithm and fuzzy sets theory

C. H. Ding, S. Fujimura, X. Wei, W. Wei

Research output: Chapter in Book/Report/Conference proceedingConference contribution

4 Citations (Scopus)

Abstract

The time-cost trade-off problem (TCTP) is an important branch in the project scheduling problem. However, the duration and cost of each activity could change stochastically as a result of uncertain factors. To meet the needs of real projects, an improved approach based on trapezoid fuzzy numbers is applied to estimate the uncertainty of time and cost. And then α-cut method is applied to decide the risk level. Furthermore, improved crossover and mutation methods for multi-objective genetic algorithm (MOGA) are used to make a large-scale computation possible. The efficiency of the proposed approach is verified by comparison with previous researches. In addition, economic analysis skill of finance cost is integrated into the new model to provide greater flexibility to managers when making decisions. Finally, time-cost tables under different risk levels for case examples are given and the advantages are investigated based on computation results.

Original languageEnglish
Title of host publicationProceedings - 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010
Pages290-294
Number of pages5
DOIs
Publication statusPublished - 2010 Dec 31
Event17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010 - Xiamen, China
Duration: 2010 Oct 292010 Oct 31

Publication series

NameProceedings - 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010

Conference

Conference17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010
CountryChina
CityXiamen
Period10/10/2910/10/31

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Keywords

  • Finance cost
  • Fuzzy sets theory
  • Multi-objective genetic algorithm
  • Project scheduling
  • Risk management
  • Time-cost trade-off problem

ASJC Scopus subject areas

  • Industrial and Manufacturing Engineering

Cite this

Ding, C. H., Fujimura, S., Wei, X., & Wei, W. (2010). Time-cost trade-off problem under uncertainty incorporating multi-objective genetic algorithm and fuzzy sets theory. In Proceedings - 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010 (pp. 290-294). [5646668] (Proceedings - 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010). https://doi.org/10.1109/ICIEEM.2010.5646668