The paper considers two-stage game-theoretic models of the project management contract with a random duration of tasks. In the first stage, the Principal signs the contract for task execution in which he determines the amount and regime of payments to each of the contractors; in the second stage, the contractors choose their own work rates. The optimal amount of payments and the expected completion time of the project are estimated. The characteristics of the optimal contract for each payment regime are numerically simulated. In accordance with the comparative analysis of the simulation results, the project manager (Principal) benefits from choosing the contract with different payments for the contractors and the payment regime upon completion of tasks.

Translated title of the contributionТеоретико-игровое моделирование контракта на управление проектом
Original languageEnglish
Article numberISSN 0005-1179
Pages (from-to)2094-2107
Number of pages14
JournalAutomation and Remote Control
Volume81
Issue number11
DOIs
StatePublished - Nov 2020

    Scopus subject areas

  • Control and Systems Engineering
  • Electrical and Electronic Engineering

    Research areas

  • amount of payment, contractor, payment regime, project completion time, project management contract, project manager (Principal), project, task, Stackelberg equilibrium, two-stage game

ID: 75326668