An optimal procedure for the unconstrained max-NPV project scheduling problem with generalized precedence relations.

Abstract

The unconstrained max-npv project scheduling problem involves the scheduling of the activities of a project in order to maximize its net present value. Assume a project represented in activity-on-mode (AoN) notation, in which the activities have a known duration and are subject to technological precedence constraints. Throughout each activity, a series of cash outflows and receipts may occur, which allows for the computation of a terminal cash flow value (positive or negative) upon the completion. The project is to be scheduled against a fixed deadline in the absence of resource constraints. Several procedures have been presented in the literature to cope with this problem. In this paper, we describe how one of the most efficient optimal procedures can be adapted to cope with generalized precedence relations, which introduce arbitrary minimal and maximal time lags between the start and completion of activities. The procedure has been programmed in Microsoft° Visual ++ 2.0 under Windows NT for use on a personal computer. Extensive computational results are reported.Scheduling; Optimal;