Proceedings of 9th Annual London Business Research Conference
4 - 5 August 2014, Imperial College, London, UK, ISBN: 978-1-922069-56-6
Project Crashing and Risk Based Resource Allocation; a
Holiday Village Example
Şevkinaz Gümüşoğlu1 and Burcu Karaöz2
In the analysis of network models, project evaluation and review
technique (PERT) and critical path method (CPM) are the famous
methods which have been widely applied to solve project planning
and control problems. Traditional PERT which is a small scale model,
analyzes the project using a standard forward-backward analysis
method. Further, quantitative models have been developed for
shortening total project time by determining appropriate activities for
crashing with a minimum cost. Due to globalization, time gained
importance against money, thus project design and finishing time
planning became more important. If finishing time of a project should
need to be shorter, crashing should be implemented with minimum
risk and cost which is based on functional relationships among project
cost, time and risk degree.
In this study; to solve the project planning and coordinating problems
of a company, a total slack time (or the path slack time) concept,
which is a new rule for crashing and a risk based resource allocation
method will be represented using activity variance or risk degree .
This concept will be applied to a holiday village project with a 350 bed
capacity. ,
1
Prof. Dr. Şevkinaz Gümüşoğlu, Business Administration Department, Yasar University, Turkey
Email: sevkinaz.gumusoglu@yasar.edu.tr
2
RA Burcu Karaöz, Business Administration Department, Yasar University, Turkey
Email: burcu.karaoz@yasar.edu.tr