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A Study on Complexity and Uncertainty Perception and Solution Strategies for the Time/Cost Trade-Off Problem

Wauters, M; Vanhoucke, M; (2016) A Study on Complexity and Uncertainty Perception and Solution Strategies for the Time/Cost Trade-Off Problem. Project Management Journal , 47 (4) pp. 29-50. 10.1177/875697281604700404. Green open access

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Abstract

In this paper, the Discrete Time/Cost Tradeoff Problem (DTCTP) is revisited in light of a student experiment. Two solution strategies are distilled from data of 444 participants and are structured by means of five building blocks, namely focus, activity criticality, ranking, intensity and action. The impact of complexity and uncertainty on the cost objective is quantified in a large computational experiment. Specific attention is allocated to the influence of the actual and perceived complexity and uncertainty and the cost repercussions when reality and perception do not coincide.

Type: Article
Title: A Study on Complexity and Uncertainty Perception and Solution Strategies for the Time/Cost Trade-Off Problem
Open access status: An open access version is available from UCL Discovery
DOI: 10.1177/875697281604700404
Publisher version: https://doi.org/10.1177/875697281604700404
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: project scheduling game, simulation, complexity, uncertainty
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > UCL School of Management
URI: http://discovery.ucl.ac.uk/id/eprint/1506251
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