An Evaluation of Triangular Neutrosophic PERT Analysis for Real-Life Project Time and Cost Estimation

Abstract

The textile industry sector's time and cost management issue led to a quest for contemporary tools that provide the best possible project time and cost prediction. Using a case study of Esa Textile in India, this paper assesses quantitative decision-making techniques in the textile industry. An extensive approach is provided so that specialists may utilise Triangular Neutrosophic
Numbers (TNNs) to express their views about identifying features and indicators of a successful project. Determining the best approach to deal with removing interruptions that can cause delays and unnecessary expenses is also an essential responsibility. While commonly employed, traditional estimating methods like the Programme Evaluation and Review Technique (PERT) may find it
difficult to adequately address the uncertainties present in real-world projects. This study examines and assesses the use of Triangular Neutrosophic PERT (TNP) analysis for project time and cost estimation in order to overcome this restriction. Neutrosophy, which allows for the depiction of inconsistent, ambiguous and partial data available in project parameters, is incorporated into the suggested TNP analysis. The efficiency of the suggested strategy has been verified by this analysis, and the network's unknown parameters are represented by triangle Neutrosophic numbers. This innovative method gives each of the three potential estimates—optimistic, most probable, and pessimistic which are all consisting of degree of membership, indeterminacy, or non-membership. This study's objective is to locate the work-network in a logical order once all of the processes at the Esa textile units have been completed. Planning is developed using the Triangular Neutrosophic Programme Evaluation and Review Techniques (TNP) even there is a time difference, which will speed up production and cut expenses. TNP provides a more thorough and adaptable depiction of uncertainty by utilizing the neutrosophic framework, which better captures the dynamic character of real-life projects.