Abstract:  
           
          Least cost scheduling techniques were accomPanying the history of modern Project 
          management, however they have never gained much importance in the 
          practice. Even in our days only a few computer application provide this kind of feature to the users. In this paper a generalized PDM least cost scheduling problem will be introduced, and a case study will be presented to demonstrate the effectiveness of the model. The case study is based on a highway construction project, where the least cost sched- 
          uling technique developed by the authors was used in applied in order 
          to calculate the minimum direct cost solution to a given project duration. The authors came to a conclusion that least cost scheduling can 
          be a useful tool in the cost planning of the projects, however further 
          research are necessary (e.g. handle of the activity calendars) to make 
          the model suitable for everyday use. 
          Keywords: 
             
            project management, 
            scheduling, cost 
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