A dynamic crashing method for project management using simulation-based optimization

A dynamic simulation-based crashing method is introduced in this research to evaluate project networks and determine the optimum crashing configuration that minimizes the average project cost due to lateness penalties and crashing costs. This dynamic approach will let the user evaluate the project network to determine a crashing strategy at the beginning of the project and also during the life of the project. By reevaluating the project network possible adjustments to the crashing strategy may be identified and implemented. The output of the method includes a distribution of the project completion time, a distribution of the project total cost, and the project cost savings.

• Type: Conference
• Year: 2008
• Where: WSC
• Authors: Michael E. Kuhl, Radhames A. Tolentino-Pena
• Keywords: Crashing Strategy, Dynamic Simulation-based Crashing, Modeling And Simulation, Project Network, WSC 2008