Comparison of Optimization Project Scheduling with Term Cost-Balancing by CPM-Earliest, CPM-Latest, and CPM-Monte Carlo Methods (Case of Housing Project Type 65)
Lilik Muzdalifah (a*), Kris Gular Pamitra (a), Eriska Fitri Kurniawati (a), Rita Yuliastuti (a), Jamaliatul Badriyah (b)

a) Universitas PGRI Ronggolawe
Jalan Manunggal 61, Tuban 62381, Indonesia
*muzdalifahlilik[at]gmail.com
b) Universitas Negeri Malang
Jalan Semarang 5, Malang 65145, Indonesia

Abstract

The most effective and realistic project scheduling is the one which is able to integrate various aspects such as time, resources, and costs. Many scheduling methods to optimize time and cost have been introduced by researcher. The most widely used among those methods is Critical Path Method (CPM). In addition, the CPM method, namely CPM (Earliest) and CPM (Latest), can also be combined with other methods such as in previous studies using the CPM-Cuckoo Search (CS) and CPM-Monte Carlo (MC) methods in terms of optimize project scheduling with daily cost-balancing. Considering that the disbursement of project funds is actually carried out in a periodic manner, the researchers have to conduct research that is more realistic. The CPM method has been proven to optimize the project scheduling with term cost-balancing more effectively and efficiently than daily cost-balancing. This research will study how CPM-MC can optimize the term cost-balancing case and then compare the optimal value of the term cost-balancing of the type 65 housing project scheduling calculated by the CPM (Earliest), CPM (Latest), and CPM-MC methods.

Keywords: Project Scheduling, Term Cost Balancing, CPM, Monte Carlo

Topic: MATHEMATICS AND STATISTICS