A dependent-chance programming model for fuzzy time-cost trade-off problem

Abstract

In real projects, both the trade-off between the project cost and the project completion time, and the uncertainty of the environment are considerable aspects for decision-makers. However, the research on the time-cost tradeoff problem seldom concerns fuzzy environments. In this paper, a new fuzzy time-cost trade-off model with the philosophy of dependent-chance programming is proposed, in which credibility theory is applied to describe the uncertainty of activity durations. A searching method as a hybrid intelligent algorithm integrating fuzzy simulation and genetic algorithm is produced to search the optimal schedule under the given decision-making rule. The purpose of the paper is to reveal how to obtain the optimal balance of the project completion time and the project cost in fuzzy environment.