Description

Activity Alternative Selection Considering Stochastic Reliability in Project Planning. Project management often involves the selection of alternatives from various options for completion of one or more activities. In some cases in addition to uncertainty in cost and activity completion time, the reliability of the alternatives must also be considered. This situation often arises when alternatives involve new or unproven technologies or processes. In this research, we present a stochastic simulation-based optimization method to evaluate project networks to select from among alternatives for completing project activities when several options are available with stochastic completion times and reliability in terms of the likelihood of successfully completing the activity. The objective of this methodology is to optimize the expected time required to complete the project. The output of the method includes a distribution of the project completion time and the configuration of alternatives selected to complete the project.

Date of creation, presentation, or exhibit

8-31-2015

Comments

Originally presented at the 2015 International Conference on Operations Excellence and Service Engineering Orlando, Florida, USA, September 10-11, 2015

Document Type

Conference Paper

Department, Program, or Center

Industrial and Systems Engineering (KGCOE)

Campus

RIT – Main Campus

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