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Econviews : Review of Contemporary Entrepreneurship, Business, and Economic Issues, Vol. 30 No. 2, 2017.

Original scientific paper

THE OPTIMIZATION OF TIME AND COST PROCESS TECHNIQUE

Dražen Barković ; Josip Juraj Strossmayer University of Osijek, Faculty of Economics in Osijek, Osijek, Croatia
Josip Jukić ; College of Slavonski Brod, Slavonski Brod, Croatia

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Abstract

The critical path method (CPM) and linear programming are two closely related operations research techniques. Some of their concepts are presented in this paper in order to review some recent modelling structures that have been particularly valuable in the analysis of project time-cost crashes problems.

The activities underwent crashing of both the time and cost using linear programming. A simplified representation of a small project and a linear programming model were formulated to represent this system. In addition to being simple, the advantage of this method is that it is applicable to large networks. It allows for a shorter computational time at a lower cost, whereas robustness is increased.

Keywords

critical path method; linear programming; time crashing; maintenance

Hrčak ID:

191896

URI

https://hrcak.srce.hr/191896

Publication date:

29.12.2017.

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