On the Optimal Frequency and Timing of Control Points in a Project s Life Cycle

The dynamic nature of projects and the fact that they are carried out inchanging environments, justify the need for their periodic monitoringand control. Collection of information about the performance ofprojects at control points costs money. The corrective actions that mayneed to be taken to bring the project in line with the plan also costsmoney. On the other hand, penalties are usually imposed when due to no monitoring policies projects are delivered later than expected.Thence, this paper addresses two fundamental questions in this regard.First question concerns the optimal frequency of control during the lifecycle of a project. The second question concerns the optimal timing ofcontrol points. Our solution methodology consists of a simulationoptimizationmodel that optimizes the timing of control points using theattraction-repulsion mechanisms borrowed from the electromagnetismtheory A mathematical model is also used to optimally expedite theremaining part of the project when possible delays are to becompensated.