Abstract
Many research efforts have been made to develop procedures which would improves the effectiveness of cost and schedule control. CPM is a method to find the project schedule that minimizes the total project cost with deterministic value provided by the estimator. However, due to uncertainty inherent with time and cost estimations, current TCT models may not useful to real construction work. The problem, which lies with these factors, is that they can not be precisely defined. Still, they must be considered in the estimation process.
In this paper, to find out the desirable project schedule under the time-cost trade off, the inherent fuzziness in time and cost are expressed by two membership functions, which enables the managers to predict the possibility the reject in question will be executed within the estimated duration and cost. The process of calculations is illustrated on a small network. Finally, a system which provides the decision-maker with a practical tool to control cost and time much effectively is also concluded.
