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A Do-it-yourself System for Scheduled Feeding of Laboratory Rodents in Their Home Cage
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Scheduling non-critical activities using multicriteria approach.

Krzysztof S Targiel1, Maciej Nowak1, Tadeusz Trzaskalik1

  • 1Department of Operations Research, University of Economics in Katowice, ul. 1 Maja 50, 40-287 Katowice, Poland.

Central European Journal of Operations Research
|September 4, 2018
PubMed
Summary

This study introduces a new method for scheduling non-critical project activities, considering both cost and risk factors. It uses an expanded Cox-Ross-Rubinstein (CRR) binomial tree approach for better decision-making under uncertainty.

Keywords:
CRR binomial methodInteractive approachProject schedulingTrade-offs

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Area of Science:

  • Operations Research
  • Project Management
  • Decision Analysis

Background:

  • Scheduling non-critical activities often involves choosing between early or late starts.
  • External factors like exchange rates can complicate these scheduling decisions.
  • Traditional methods may not adequately address bi-criteria decision-making under risk.

Purpose of the Study:

  • To address the bi-criteria problem of determining the optimal start time for non-critical activities.
  • To develop an interactive technique for project managers to make informed scheduling decisions.
  • To incorporate cost (exchange rate dependent) and risk (delay dependent) into activity scheduling.

Main Methods:

  • Utilizing the Critical Path Method to identify early and late start times.
  • Applying an expanded Cox-Ross-Rubinstein (CRR) binomial tree method for scheduling.
  • Implementing a novel interactive technique based on trade-offs for bi-criteria decision-making.

Main Results:

  • The proposed method provides a structured approach to dynamic, bi-criteria decision-making under risk.
  • The CRR binomial method is effectively used to evaluate activity costs influenced by exchange rates.
  • The interactive technique aids in identifying candidate solutions by balancing cost and risk.

Conclusions:

  • The developed technique offers a practical solution for scheduling non-critical activities with complex dependencies.
  • Integrating exchange rate volatility and activity delay risk enhances project management decision-making.
  • This approach supports dynamic adjustments and resource allocation for project activities.