High performance heuristic algorithm for controlling stochastic network projects

Article Abstract:

A risk-averse decision making (RADM) control algorithm can determine stochastic network projects of varied sizes. The new control algorithm is also easy to operate and can be implemented on a personal computer. These developments are carried out in a study of the control algorithm using measures of average control points, speeds, time efficiencies, and computational times. In comparison with a decision making via sequential analysis (SADM) control algorithm, RADM is found to be more efficient and cost effective.

Stochastic systems, Control systems

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Hierarchical decision-making model for planning and controlling stochastic projects

Article Abstract:

A three-level decision-making model for controlling and planning stochastic network projects is developed. The upper or company level faces the challenge of optimal budget allocation for various projects. Management determines an optimal joint variant based on an assigned budget at the middle or project level while the subnetwork level is tasked with controlling the project according to the optimal joint variant.

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Stochastic network project scheduling with non-consumable limited resources

Article Abstract:

A stochastic network project scheduling prototype with non-consumable constrained resources for a PERT type project is presented. The goal of the prototype is to lessen the anticipated project interval. A heuristic algorithm is found to be considerably simple to use and sensitive, and it was found that for specific sets of activities the equivalent intervals may be contingent.

Productivity Improvement, Analysis, Labor productivity, Stochastic processes

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