A biobjective genetic algorithm approach to project scheduling under risk

A problem of risk mitigation in project scheduling is formulated as a bi-objective optimization problem, where the expected makespan and the expected total cost are both to be minimized. The expected total cost is the sum of four cost components: overhead cost, activity execution cost, cost of reducing risks and penalty cost for tardiness. Risks for activities are predefined. For each risk at an activity, various levels are defined, which correspond to the results of different preventive measures. Only those risks with a probable impact on the duration of the related activity are considered here. Impacts of risks are not only accounted for through the expected makespan but are also translated into cost and thus have an impact on the expected total cost. An MIP model and a heuristic solution approach based on genetic algorithms (GAs) is proposed and tested. The experiments conducted indicate that GAs provide a fast and effective solution approach to the proble m. For smaller problems, the results obtained by the GA are very good. For larger problems, there is room for improvement

Four payment models for the multi-mode resource constrained project scheduling problem with discounted cash flows

In this paper, the multi-mode resource constrained project scheduling problem with discounted cash flows is considered. The objective is the maximization of the net present value of all cash flows. Time value of money is taken into consideration, and cash in- and outflows are associated with activities and/or events. The resources can be of renewable, nonrenewable, and doubly constrained resource types. Four payment models are considered: Lump sum payment at the terminal event, payments at prespecified event nodes, payments at prespecified time points and progress payments. For finding solutions to problems proposed, a genetic algorithm (GA) approach is employed, which uses a special crossover operator that can exploit the multi-component nature of the problem. The models are investigated at the hand of an example problem. Sensitivity analyses are performed over the mark up and the discount rate. A set of 93 problems from literature are solved under the four different payment models and resource type combinations with the GA approach employed resulting in satisfactory computation times. The GA approach is compared with a domain specific heuristic for the lump sum payment case with renewable resources and is shown to outperform it

A bi-objective genetic algorithm approach to risk mitigation in project scheduling

A problem of risk mitigation in project scheduling is formulated as a bi-objective optimization problem, where the expected makespan and the expected total cost are both to be minimized. The expected total cost is the sum of four cost components: overhead cost, activity execution cost, cost of reducing risks and penalty cost for tardiness. Risks for activities are predefined. For each risk at an activity, various levels are defined, which correspond to the results of different preventive measures. Only those risks with a probable impact on the duration of the related activity are considered here. Impacts of risks are not only accounted for through the expected makespan but are also translated into cost and thus have an impact on the expected total cost. An MIP model and a heuristic solution approach based on genetic algorithms (GAs) is proposed. The experiments conducted indicate that GAs provide a fast and effective solution approach to the problem. For smaller problems, the results obtained by the GA are very good. For larger problems, there is room for improvement

Kaynak kısıtlı proje çizelgelemede indirgenmiş nakit akışı maksimizasyonu için bir genetik algoritma yaklaşımı

Bu çalısmada kaynak kısıtlı proje çizelgelemede indirgenmis nakit akısını ençoklamak için gelistirilen bir genetik algoritma sunulmaktadır. Problem hem yenilenebilir hem de yenilenemez kaynaklar göz önüne alınarak tanımlanmaktadır. Kaynakların uygulanmasında sonlu sayıda mod söz konusudur. Genetik algoritmada, çok-bilesenli, düzgün, sıralama temelli bir çaprazlama operatörü kullanılmıstır. Bu çaprazlama operatörünün öncüllük kısıtlarını ihlal etmeyisi önemli bir avantaj sağlamaktadır. Genetik algoritmanın parametrelerinin saptanması için bir meta-seviye genetik algoritma uygulanmıstır. Önerilen algoritmanın sınanması için teknik yazında mevcut 93 problemlik bir test problem kümesi kullanılmıstır. Ayrıca, salt yenilenebilir kaynaklar problemi için, özel amaçlı bir algoritma ile karsılastırma yapılmıs ve önerilen algoritmanın özellikle büyük boyutlu problemlerde basarılı olduğu gösterilmistir

Three Different Payment Programs for the Multi-Mode Resource Constrained Project Scheduling Problem with Discounted Cash Flows: A Genetic Algorithm Approach

In this paper, the multi-mode resource constrained project scheduling problem with discounted cash flows (RCPSPDCF) is considered. The objective is the maximization of the net present value (NPV) of all cash flows. The cash in- and out-flows are associated with activities and/or events. A genetic algorithm (GA) approach is developed exploiting the multi-component nature of the problem. Renewable, non-renewable, and doubly constrained resources are considered. Three different payment programs are considered: A lump sum payment at the terminal event, payments at pre-specified event nodes, and payments at pre-specified time points. A set of 93 problems are solved under three different payment programs. GA developed proves to be a robust algorithm resulting in satisfactory computational times

A bi-objective genetic algorithm approach to risk mitigation in project scheduling

A problem of risk mitigation in project scheduling is formulated as a bi-objective optimization problem, where the expected makespan and the expected total cost are both to be minimized. The expected total cost is the sum of four cost components: overhead cost, activity execution cost, cost of reducing risks and penalty cost for tardiness. Risks for activities are predefined. For each risk at an activity, various levels are defined, which correspond to the results of different preventive measures. An MIP model and a heuristic solution approach based on genetic algorithms (GAs) is proposed. GAs provide a fast and effective solution approach to the problem.

Client-contractor bargaining on net present value in the context of a project with limited resources

This study focuses on the client-contractor bargaining problem in the context of multi mode resource constrained project scheduling. The bargaining objective is to maximize the bargaining function comprised of the individual NPV maximizing objectives of both the client and the contractor. Tabu Search and Simulated Annealing are proposed as solution procedures