Project Scheduling with Simultaneous Optimization, Time, Net Present Value, and Project Flexibility for Multimode Activities with Constrained Renewable Resources

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FARUGHI H.; AMIRI A.; ABDI F.

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Journal Paper

Paper Information

Journal: INTERNATIONAL JOURNAL OF ENGINEERING Year:2018 | Volume:31 | Issue:5 (TRANSACTIONS B: Applications) Page(s): 780-791

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Information Journal Paper

Title

Project Scheduling with Simultaneous Optimization, Time, Net Present Value, and Project Flexibility for Multimode Activities with Constrained Renewable Resources

Author(s)

FARUGHI H. | AMIRI A. | ABDI F. | Issue Writer Certificate

Keywords

Resource Constrained Project Scheduling

Time-cost trade-off

Simulated Annealing

Algorithm

Project Flexibility

Multi-mode Activities

Abstract

Project success is assessed based on various criteria, every one of which enjoys a different level of importance from the beneficiaries and decision makers. Time and cost are the most important objectives and criteria for assessing project success. On the other hand, reducing the risk of finishing activities by the predetermined deadlines should be taken into account. Having formulated the problem as a multi-objective planning one, the present study aims to minimize the project completion time as well as maximizing the net present value and Project Flexibility by taking into accounts the resource constraints and precedence relations. Here, the flexibility of the project is calculated by considering a free float for each activity and maximizing the sum of these flotation times. Moreover, the performance of each activity may be possible in various states of using resources (mode) which can change the project completion time and cost. Owing to the complexity of the problem, the Multi Objective Simulated Annealing Meta-Heuristic Algorithm is used to solve the proposed model. For accrediting the Algorithm, four benchmark problems were considered. Since the Algorithm performed well in finding the optimal answers to the benchmark problems, it was used to find the optimal answer of large scale problems.

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APA: Copy

FARUGHI, H., AMIRI, A., & ABDI, F.. (2018). Project Scheduling with Simultaneous Optimization, Time, Net Present Value, and Project Flexibility for Multimode Activities with Constrained Renewable Resources. INTERNATIONAL JOURNAL OF ENGINEERING, 31(5 (TRANSACTIONS B: Applications)), 780-791. SID. https://sid.ir/paper/730352/en

Vancouver: Copy

FARUGHI H., AMIRI A., ABDI F.. Project Scheduling with Simultaneous Optimization, Time, Net Present Value, and Project Flexibility for Multimode Activities with Constrained Renewable Resources. INTERNATIONAL JOURNAL OF ENGINEERING[Internet]. 2018;31(5 (TRANSACTIONS B: Applications)):780-791. Available from: https://sid.ir/paper/730352/en

IEEE: Copy

H. FARUGHI, A. AMIRI, and F. ABDI, “Project Scheduling with Simultaneous Optimization, Time, Net Present Value, and Project Flexibility for Multimode Activities with Constrained Renewable Resources,” INTERNATIONAL JOURNAL OF ENGINEERING, vol. 31, no. 5 (TRANSACTIONS B: Applications), pp. 780–791, 2018, [Online]. Available: https://sid.ir/paper/730352/en

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