Client-contractor bargaining on net present value in project scheduling with limited resources

The client-contractor bargaining problem addressed here is in the context of a multi-mode resource constrained project scheduling problem with discounted cash flows, which is formulated as a progress payments model. In this model, the contractor receives payments from the client at predetermined regular time intervals. The last payment is paid at the first predetermined payment point right after project completion. The second payment model considered in this paper is the one with payments at activity completions. The project is represented on an Activity-on-Node (AON) project network. Activity durations are assumed to be deterministic. The project duration is bounded from above by a deadline imposed by the client, which constitutes a hard constraint. The bargaining objective is to maximize the bargaining objective function comprised of the objectives of both the client and the contractor. The bargaining objective function is expected to reflect the two-party nature of the problem environment and seeks a compromise between the client and the contractor. The bargaining power concept is introduced into the problem by the bargaining power weights used in the bargaining objective function. Simulated annealing algorithm and genetic algorithm approaches are proposed as solution procedures. The proposed solution methods are tested with respect to solution quality and solution times. Sensitivity analyses are conducted among different parameters used in the model, namely the profit margin, the discount rate, and the bargaining power weights

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

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

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

Part Special Issue: Project Management and Scheduling

WOS: 000282529100001

A Genetic Algorithm for Multiprocessor Task Scheduling in Multistage Hybrid Flowshops

A genetic algorithm is developed to schedule multi-processor tasks in a multistage hybrid flowshop environment. The objective is to minimize the makespan, i.e. the completion of the task of the lastly scheduled job in the last stage. The geneti

Multiprocessor task scheduling in multistage hybrid flow shops: A genetic algorithm approach

This paper considers multiprocessor task scheduling in a multistage hybrid flow-shop environment. The objective is to minimize the make-span, i.e. the completion time of all the tasks in the last stage. This problem is of practical interest in the textile and process industries. A genetic algorithm (GA) is developed to solve the problem. The GA is tested against a lower bound from the literature as well as against heuristic rules on a test bed comprised of 400 problems with up to 100 jobs, 10 stages, and with up to 5 processors on each stage. For small problems, solutions found by the GA are compared to optimal solutions, which are obtained by total enumeration. For larger problems, optimum solutions are estimated by a statistical prediction technique. Computational results show that the GA is both effective and efficient for the current problem. Test problems are provided in a web site at www.benchmark.ibu.edu.tr/mpt-hfsp Key words: multiprocessor tasks, hybrid flow-shops, make-span minimization, genetic algorithms

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

Abstract 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

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 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