Multiple Criteria Project Scheduling with Project Delay, Resource Level and NPV Optimization
One of the most important phases in project management is planning. During this phase tasks are identified and scheduled. A schedule brings information on how tasks should be planned over time during the realization phase of the project. That is why scheduling is a critical issue in project management. The main project scheduling techniques are CPM and PERT. They deliver the schedule with the optimal project finish time and ensure the control of resource usage. In real-life applications the schedule should optimize not only the project finish time but also resource usage and cash flows. In research on the project scheduling problem the mathematical models are used to build an optimal project schedule. Frequently used are one-objective mathematical models for project scheduling. Few papers deal with the multiple objective project scheduling problem. Constraints and objectives in project scheduling are determined by three main issues: time, resource and costs, but only few papers consider all of them. A zero-one programming formulation has been applied to solve a multiple criteria project scheduling problem in this paper. The purpose of this paper is to present the multiple criteria project scheduling problem with three objectives: project delay minimization, resource usage in each period of time minimization and NPV maximization. (original abstract)
- Bartusch M., Mohring R., Radermacher F. (1988), Scheduling Project Networks with Resource Constraints and Time Windows, "Annals of Operations Research", No. 16(1-4).
- Bianco L., Dell`Olmo P., Speranza M. (1998), Heuristics for Multimode Scheduling Problem with Dedicated Resources, "European Journal of Operational Research", No. 107.
- Brandenburg H. (2002), Project Management, University of Economics in Katowice Publisher, Katowice.
- Carlier J., Chrétienne P. (1988), Problèmes d'ordonnancement: modélisation /complexité/algorithmes, Masson, Paris.
- Doersch R.H., Patterson J.H. (1977), Scheduling a Project to Maximize its Present Value: a Zero-one Programming Approach, "Management Science", No. 23(8).
- Gaspars-Wieloch H. (2008), Optimization Models for Time and Cost Analysis Review, [in:] An Operational Research Department Works, ed. W. Sikora, University of Economics, Poznań.
- Hapke M., Jaszkiewiecz A., Słowiński R. (1998), Interactive Analysis of Multiple- -criteria Project Scheduling Problems, "European Journal of Operational Research, No. 107.
- Icmeli O., Erenguc S.S. (1996), A Branch and Bound Procedure for the Resource Constrained Project Scheduling Problem with Discounted Cash Flows, "Management Science", No. 42(10).
- Kostrubiec A. (2003), Project Scheduling - Models Review, [in:] Project Management Engineering, ed. L. Zawadzka, Gdańsk.
- Leu S.S,., Yang C.H. (1999), Ga-based Multicriteria Optimal Model for Construction Scheduling, "Journal of Construction Engineering and Management",No. 125(6).
- Pinedo M. (1995), Scheduling - Theory, Algorithms and Systems, Prentice Hall Englewood Cliffs.
- Russell R.A. (1970), Cash Flows in Networks, "Management Science", No. 16(5).
- Shouman M.A., Ibrahim M.S., Khater M., Forgani A.A. (2006), Genetic Algorithm Constraint Project Scheduling, "Alexandria Engineering Journal", Vol. 45, No. 3.
- Talbot T. (1982), Resource-constrained Project Scheduling with Time-resource Tradeoffs: The Non-preemptive, "Management Science", Vol. 28, Iss. 10.
- Vanhoucke M., Demeulemeester E., Herroelen W. (2001), On Maximizing the Net Present Value of a Project Under Renewable Resource Constraints, "Management Science", No. 47(8).
- Vanhoucke M., Demeulemeester E., Herroelen W. (2002), Progress Payments in Project Scheduling Problems, "European Journal of Operational Research", No. 148.
- Viana A., de Sousa J.P. (2000), Using Metaheuristic in Multiobjective Resource Constrained Project Scheduling, "European Journal of Operational Research", No. 120.