NONLINEAR TIME COST TRADEOFF MODELS IN PROJECT-MANAGEMENT

In this paper we develop a series of nonlinear time/cost tradeoff models for project management. A base model with quadratic cost relations is developed and then extended to include other operational considerations. The use of nonlinear functions to describe time/cost relationships in project scheduling environments permits a more accurate representation of the operational setting than is possible with linear or piecewise linear approximations. Examples of the models presented are solved directly with commercially available nonlinear programming codes.