Robust optimization for the discrete time-cost tradeoff problem with cost uncertainty

Projects are subject to various sources of uncertainty that hamper reaching project targets; hence, it is crucial importance to use effective approaches to generate robust project schedules, which are less vulnerable to disruptions caused by uncontrollable factors. In this vein, this chapter examines analytical models and algorithms of robust multi-mode project scheduling, specifically, the robust discrete time-cost tradeoff problem (DTCTP). The models and algorithms presented in this chapter can support project managers from a wide range of industries in scheduling activities to minimize deviations from project goals. Furthermore, some surrogate measures that aim at providing an accurate estimate of the schedule robustness are developed and related experimental results are presented. Finally, some potential research areas are proposed and discussed. © Springer International Publishing Switzerland 2015.