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Mathematical Algorithms Supporting the Optimization of Topical Aspects of Project Management
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Author(s): Zahra Pezeshki (Heat and Mass Transfer Department, Moscow Power Engineering Institute (Technical University), Moscow, Russia), Eugene Krinitsky (Heat and Mass Transfer Department, Moscow Power Engineering Institute (Technical University), Moscow, Russia), M. Reza Hosseini (University of Melbourne, Melbourne, Australia), Igor Martek (Faculty of Science Engineering and Built Environment, Deakin University, Victoria, Australia)and Sayyed Majid Mazinani (Faculty of Engineering, Imam Reza International University, Mashhad, Iran)
Copyright: 2025
Pages: 48
Source title:
Encyclopedia of Information Science and Technology, Sixth Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Founding Editor-in-Chief, Information Resources Management Journal (IRMJ), USA)
DOI: 10.4018/978-1-6684-7366-5.ch064
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Abstract
Project management is a highly sophisticated undertaking requiring the synthesis of various interconnected functions, processes, and activities. Numerous risks and uncertainties are inherent to all these inputs. Consequently, successful project management entails the optimization of the complete project as a system. In order to achieve this result, however, the various system subsets to the project must themselves be optimized. Given the current complexity of projects, optimization cannot be adequately undertaken by intuitive judgment alone. Philosophically, optimization is a mathematical concept, and mathematical algorithms are available to identify ideal operating parameters for any given problem. This chapter samples a range of features inherent to project management operations and presents mathematical algorithms that deliver optimal solution sets. The material is collated from literature and adapted to the project management context.
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