Minimizing a Project Cost with Bounds on the Expectation and Variance of the Delay Time.
Abstract
A problem is discussed involving a project consisting of a number of tasks, each of which must be performed in a sequential manner. Any of the tasks is subject to a potential delay of known duration beyond its scheduled starting time. The task delay times may be decreased with the addition of funding. We seek to minimize the cost of completing the project, subject to bounds on both the expectation and variance of the total delay time. An algorithm is presented to solve the general problem. An example illustrates the method.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 30, 1978
- Accession Number
- ADA058137
Entities
People
- James E. Falk
Organizations
- George Washington University