Optimization of Time and Cost for a Research Project by Project Crashing Method

Abstract

Abstract The aim of current study is to access trade off between time and cost for the duration of a research project. A linear programming model (LPP) was developed and used for the same purpose. Normal and Crashing Costs for the project activities were obtained from the principal investigator of the project and were used for conducting the analysis in the excel solver. Maximum and minimum duration for the project was obtained through critical path method and crashing method respectively. The result of the study indicated significant reduction in project duration with normal increase in project cost. A small increase in the project cost with reduction of nearly 45 days in the project interval was observed. Nearly 5% increase in cost of the project was noticed with reduction of 15% in total project duration.