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On the Optimal Frequency and Timing of Control Points in a Projects Life Cycle

Credit to Download: 1 | Page Numbers 7 | Abstract Views: 277
Year: 2009
COI code: JR_IJIEPR-20-3_002
Paper Language: English

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Authors On the Optimal Frequency and Timing of Control Points in a Projects Life Cycle

  Hamed. R. Tareghian - is with the Department of Applied Mathematics, Faculty of Mathematical Sciences, Ferdowsi University of Mashhad.
  Madjid. Salari - is with the Department of Applied Mathematics, Faculty of Mathematical Sciences, Ferdowsi University of Mashhad

Abstract:

The dynamic nature of projects and the fact that they are carried out in changing environments, justify the need for their periodic monitoring and control. Collection of information about the performance of projects at control points costs money. The corrective actions that may need to be taken to bring the project in line with the plan also costs money. On the other hand, penalties are usually imposed when due to no monitoring policies projects are delivered later than expected. Thence, this paper addresses two fundamental questions in this regard. First question concerns the optimal frequency of control during the life cycle of a project. The second question concerns the optimal timing of control points. Our solution methodology consists of a simulationoptimizationmodel that optimizes the timing of control points using the attraction-repulsion mechanisms borrowed from the electromagnetism theory A mathematical model is also used to optimally expedite the remaining part of the project when possible delays are to be compensated.

Keywords:

project management, project control, electromagnetism theory

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COI code: JR_IJIEPR-20-3_002

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Tareghian, Hamed. R. & Madjid. Salari, 2009, On the Optimal Frequency and Timing of Control Points in a Projects Life Cycle, International Journal of Industrial Engineering & Production Research 20 (3), https://www.civilica.com/Paper-JR_IJIEPR-JR_IJIEPR-20-3_002.htmlInside the text, wherever referred to or an achievement of this article is mentioned, after mentioning the article, inside the parental, the following specifications are written.
First Time: (Tareghian, Hamed. R. & Madjid. Salari, 2009)
Second and more: (Tareghian & Salari, 2009)
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Type: state university
Paper No.: 25112
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