Towards the minimization of project duration and cost in stochastic project management environments

Abstract

There is a general consensus that the rational use of available resources is, nowadays, an important task, since project managers are interested in the maximization of profit and the minimization of risk. In this work, it is proposed a multi-objective model to optimize the use of resources in a stochastic environment. In this multi-objective formulation the aim is to minimize the project duration and the total project cost at the same time. In the future, we intend to solve this problem using multi-objective evolutionary algorithms.