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

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

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

3 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
Event17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010 - Xiamen
Duration: 2010 Oct 292010 Oct 31

Other

Other17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010
CityXiamen
Period10/10/2910/10/31

Fingerprint

Fuzzy set theory
Genetic algorithms
Costs
Economic analysis
Finance
Managers
Decision making
Scheduling
Uncertainty

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] https://doi.org/10.1109/ICIEEM.2010.5646668

Time-cost trade-off problem under uncertainty incorporating multi-objective genetic algorithm and fuzzy sets theory. / Ding, C. H.; Fujimura, Shigeru; Wei, X.; Wei, W.

Proceedings - 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010. 2010. p. 290-294 5646668.

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

Ding, CH, 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., 5646668, pp. 290-294, 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010, Xiamen, 10/10/29. https://doi.org/10.1109/ICIEEM.2010.5646668
Ding CH, Fujimura S, Wei X, Wei W. 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. 2010. p. 290-294. 5646668 https://doi.org/10.1109/ICIEEM.2010.5646668
Ding, C. H. ; Fujimura, Shigeru ; Wei, X. ; Wei, W. / Time-cost trade-off problem under uncertainty incorporating multi-objective genetic algorithm and fuzzy sets theory. Proceedings - 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management, IE and EM2010. 2010. pp. 290-294
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