DOIONLINE 
DOIONLINE Publish In |
International Journal of Management and Applied Science (IJMAS)-IJMAS |
 Journal Home Volume Issue |
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Issue |
Volume-1,Issue-9, Special Issue-2, Oct ( Oct, 2015 ) | |||||||||
Paper Title |
Time-Cost-Quality-Risk Trade-Off In Engineering Projects | |||||||||
Author Name |
Nwaneri S.C, Anyaeche C.O | |||||||||
Affilition |
Biomedical Engineering Department, College of Medicine, University of Lagos, Nigeria. Department of Industrial and Production Engineering, University of Ibadan, Nigeria. | |||||||||
Pages |
304-306 | |||||||||
Abstract |
In project management, the fundamental project concepts of Time, Cost, Quality and Risk are conflicting terms which should be appropriately assigned to project activities to achieve the desired objectives of project stakeholders. In this study an optimization model was developed for Time-Cost-Quality-Risk-Trade-offin projects. The algorithm was implemented in the MATLAB software using multiobjective genetic algorithm and applied to a sample 18-activity project.Pareto optimal solutions were generated from which the decision maker can choose based on his preferences. Keywords- Time Cost, Quality, Risk And Optimization. | |||||||||
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