Fuzzy Mathematical Model For Optimizing Success Criteria Of Projects: A Project Management Application

TL;DR

This paper introduces a fuzzy mathematical model that optimizes project success by simultaneously balancing cost, time, and quality through a single multi-objective approach, simplifying previous methods.

Contribution

It presents a novel single fuzzy model for multi-criteria project success optimization, replacing multiple separate models and enhancing efficiency.

Findings

Model successfully balances project criteria

Numerical examples validate effectiveness

Simplifies multi-criteria optimization process

Abstract

It is well known over the recent years that measuring the success of projects under the umbrella of project management is inextricably linked with the associated cost, time, and quality. Most of the previous researches in the field assigned a separate mathematical model for each criterion, then numerical methods or search techniques were applied to obtain the optimal trade-off between the three criteria. However in this paper, the problem was addressed by linear multi-objective optimization using only one fuzzy mathematical model. The three criteria were merged in a single non-linear membership function to find the optimal trade-off. Finally, the proposed model is tested and validated using numerical examples.