Robust design for optimal project management with reliability and cost

An approach which combines PERT and CPM in one model to solve project scheduling problems, is introduced. Due to the stochastic nature of activity time and cost for PERT and CPM networks, robust design for project scheduling via statistical method is introduced in the presented approach. The statistical method, such as response surface methodology (RSM), is used to develop a rationale of the time-cost tradeoff problem. Since the character of stochastic networks is considered in this study, other than the deterministic values of completion time and total cost, the probabilistic values of completion time reliability and total cost reliability are also considered as response values for statistical optimization. The results indicate that the presented approach provides an efficient and practical means in finding the robust and optimal scheduling for project management problem.