Activity Flow Optimization and Risk Evaluation of Complex Project

Author

Chen Dong-yu ; Qiu Wan-hua ; Yang Min ; Leung Mei-yung

Author_Institution

Sch. of Econ. & Manage., Beihang Univ., Beijing

fYear

2007

fDate

21-25 Sept. 2007

Firstpage

5196

Lastpage

5199

Abstract

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.

Keywords

cost reduction; matrix algebra; optimisation; project management; risk management; activity flow optimization; complex project; cost reduction; cost risk evaluation; dependency structural matrix theory; project management; schedule control; Buildings; Construction industry; Cost function; Job shop scheduling; Product design; Project management; Risk management; Scheduling algorithm; Technology management; Uncertainty;

fLanguage

English

Publisher

ieee

Conference_Titel

Wireless Communications, Networking and Mobile Computing, 2007. WiCom 2007. International Conference on

Conference_Location

Shanghai

Print_ISBN

978-1-4244-1311-9

Type

conf

DOI

10.1109/WICOM.2007.1272

Filename

4341047