A study on complexity and uncertainty perception and solution strategies for the time/cost trade-off problem
Wauters, Mathieu Vanhoucke, Mario
Wauters, Mathieu
Vanhoucke, Mario
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2016
Journal
Project Management Journal
Book
Publication Volume
47
Publication Issue
4
Publication Begin page
29
Publication End page
50
Publication Number of pages
Collections
Abstract
In this article, the Discrete Time/Cost Tradeoff Problem (DTCTP) is revisited in light of a student experiment. Two solution strategies are distilled from the data of 444 participants and are structured by means of five building blocks: focus, activity criticality, ranking, intensity, and action. The impact of complexity and uncertainty on the cost objective is quantified in a large computational experiment. Specific attention is allocated to the influence of the actual and perceived complexity and uncertainty and the cost repercussions when reality and perception do not coincide.
Research Projects
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Keywords
Project Scheduling, Game, Simulation, Complexity, Uncertainty