An adaptive crashing policy for stochastic time-cost tradeoff problems
We consider a stochastic time-cost tradeoff problem. We present a dynamic programming (DP) formulation for the adaptive threshold policy. We show that the policy is optimal for a serial-graph project. We develop a heuristic for arbitrary-graph projects. We verify through the computational experiments that the heuristic is better than the previous heuristics.
dynamic programming stochastic project scheduling adaptive policy