Project Management Time-Cost Balancing Model for Smart Cities Transformation

Abstract

The time-cost balancing management model for complex smart city transformation projects at the preliminary planning stages has been developed. The model is based on a graphical interpretation of the project implementation volume as the area of a right triangle in the space of its states, the dimensions of which are given by the coordinates of the basic indicators: cost and execution time. The essence of the study is to establish under what conditions the volume of project implementation (area) will be the largest, and the cost of resources (sides of the rectangle) will be the smallest. According to the results of the study it is established that of all the rectangles that determine the possible states of the project, only the square has the largest area with a minimum length of the perimeter (resource costs). To provide optimal solutions for correcting the deviation of the actual states from the planned ones, adaptive control is substantiated by calculating the smoothed value at the adjustment point as the arithmetic mean, planned, actual and predicted values.