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MODELING TIME‐COST TRADE‐OFFS IN CPM NETWORKS
Author(s) -
Pilot Chris,
Pilot Stephen
Publication year - 1996
Publication title -
production and operations management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.279
H-Index - 110
eISSN - 1937-5956
pISSN - 1059-1478
DOI - 10.1111/j.1937-5956.1996.tb00399.x
Subject(s) - computer science , task (project management) , work (physics) , function (biology) , resource (disambiguation) , operations research , economics , mechanical engineering , computer network , management , evolutionary biology , engineering , biology
A new type of PERT/CPM methodology is introduced whereby the individual activities within a project management network are endowed with resistive and capacitive elements. This methodology will enable us to mathematically define a completion time for the various activities and to relate the completion time to relevant cost in the completion of a particular task. It will also allow us to define the work done, and the rate at which work is being done, in an activity as a function of the applied effort and resource outlay. As a consequence, both the resource expenditure and the work done can be tracked within a network as a function of time.