Activity Flow Optimization and Risk Evaluation of Complex Project

In order to effectively control the schedule and cost of complex project, this paper proposes an algorithm for optimizing activity sequences and a model for evaluating schedule/cost risks based on dependency structural matrix (DSM) theory. The activity optimization algorithm aims to reduce unnecessa...

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Bibliographic Details
Main Authors: Chen, Dong-Yu, Qiu, Wan-Hua, Yang, Min, Leung, Mei-Yung
Format: Conference Proceeding
Language:English
Subjects:
Buildings
Construction industry
Cost function
Job shop scheduling
Product design
Project management
Risk management
Scheduling algorithm
Technology management
Uncertainty
Online Access:Request full text
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Description
Summary:In order to effectively control the schedule and cost of complex project, this paper proposes an algorithm for optimizing activity sequences and a model for evaluating schedule/cost risks based on dependency structural matrix (DSM) theory. The activity optimization algorithm aims to reduce unnecessary activity rework by arranging activity execution order properly. Risk evaluation model also takes account of the uncertainties of project activities as well as learning effects. The simulation result indicates that our optimization algorithm can effectively reduce cost and compress schedule for complex projects.
ISSN:2161-9646
DOI:10.1109/WICOM.2007.1272