alexa Abstract | An Interval Parameter Two-Stage Stochastic Approach to Optimize Budget and Schedule in Construction Management
ISSN: 2165-784X

Journal of Civil & Environmental Engineering
Open Access

OMICS International organises 3000+ Global Conferenceseries Events every year across USA, Europe & Asia with support from 1000 more scientific Societies and Publishes 700+ Open Access Journals which contains over 50000 eminent personalities, reputed scientists as editorial board members.

Open Access Journals gaining more Readers and Citations

700 Journals and 15,000,000 Readers Each Journal is getting 25,000+ Readers

This Readership is 10 times more when compared to other Subscription Journals (Source: Google Analytics)

Research Article Open Access


An interval parameter two-stage stochastic model for project budgeting and scheduling is developed to dealing with the uncertainties residing in the project management. The model focuses on the probability distribution in activity durations and the uncertainties expressed as intervals in costs. It minimizes the inexact costs (direct costs, indirect costs and penalties) with reference to the specified project completion time and the durations of activities estimated from two-stage stochastic programming. The proposed approach for budgeting and scheduling is a hybrid of two stage stochastic programming and inexact optimization. Solutions obtained from the model will provide a reasonable crashing time plan to accomplish given projects on specific time and come up a lowest cost plan for tardiness. This approach can effectively reflect the interactive relationships among all the uncertain system components. The plan provides useful decision support for project managers through these post-optimality analyses. The developed model is applied to a case study to illustrate its feasibility of dealing the actual project management decision problems. The paper implements the model to a gas pipeline construction project with specified completion time and milestone allocating tasks as the case study. The proposed model provides a systematic framework that facilitates the decision making process and enable project managers to justify the range of the solutions when the decision variables are intervals.

To read the full article Peer-reviewed Article PDF image | Peer-reviewed Full Article image

Author(s): Jinxin Zhu and Gordon Huang


Cost, Crashing time allocation, Decision making, Inexact optimization, Project management, Two-stage stochastic programming, Uncertainty, Soil Contamination, Building Material, Soil Moisture, Environmental Engineering, Environmental Impact, Environmental Issues, Water Resource, Material Engineering, Pollution Control, Water Quality, Transport Engineering, Wastewater Treatment Plant, Environmental sustainability, Computation Fluid Dynamics, Geotechnical Engineering, Evapotranspiration, Foundation

Share This Page

Additional Info

Loading Please wait..
Peer Reviewed Journals
Make the best use of Scientific Research and information from our 700 + peer reviewed, Open Access Journals
International Conferences 2017-18
Meet Inspiring Speakers and Experts at our 3000+ Global Annual Meetings

Contact Us

© 2008-2017 OMICS International - Open Access Publisher. Best viewed in Mozilla Firefox | Google Chrome | Above IE 7.0 version