A New Approach to Find an Optimal Solution of a Fuzzy Project Management Problem by Fuzzy Dynamic Programming

Abstract

This paper mainly focuses on a new approach to find an optimal solution of a fuzzy Project Management problem with the help of Fuzzy Dynamic Programming. Project Management deals with the allocation of available foremen to the existing projects to complete the projects within the stipulated time. Moreover, it is known that fuzziness prevails in all fields. Hence, a general Project Management problem with fuzzy parameters is considered where the estimated time to complete each project is taken as Generalized Trapezoidal Fuzzy Numbers. The solution is obtained by the method of FDP by framing fuzzy forward and fuzzy backward recursive equations. It is observed that the solutions obtained by both the equations are the same. This approach is illustrated with a numerical example. This feature of the proposed approach eliminates the imprecision and fuzziness in Project Management models. The application of Fuzzy set theory in the field of dynamic Programming is called Fuzzy Dynamic Programming.