SUMMARY
- Activity flexibility within normal and crash durations.
- Notion of direct activity related costs and project indirect
costs.
- Variety of cost time tradeoff functions for the activities
of a project.
Linear -Non linear (Convex)
Concave - Discontinuous & discrete
- Heuristic procedure for project crashing based on path
tracking and economic activity selection.
- Illustration of the procedure on a sample project.
- The derivation of the Project Cost -Duration efficient
frontier.
- The managerial significance of the efficient frontier.
- Derivation of the Total cost curve for the sample project.
- Identification of the least cost duration for the project
which could well be the target duration for implementation
- Trade-off analysis thus provides a look at the range of
possibilities and assists in picking the best schedule.
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