New computational results on the discrete time/cost trade-off problem in project networks
Demeulemeester, Erik De Reyck, B. Foubert, Bram Herroelen, Willy Vanhoucke, Mario
Demeulemeester, Erik
De Reyck, B.
Foubert, Bram
Herroelen, Willy
Vanhoucke, Mario
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
1998
Journal
Journal of the Operational Research Society
Book
Publication Volume
49
Publication Issue
11
Publication Begin page
1153
Publication End page
1163
Publication Number of pages
Collections
Abstract
A description is given of a new exact procedure for the discrete time/cost trade-off problem in deterministic activity-on-the-arc networks of the CPM type, where the duration of each activity is a discrete, nonincreasing function of the amount of a single resource (money) committed to it. The objective is to construct the complete and efficient time/cost profile over the set of feasible project durations. The procedure uses a horizon-varying approach based on the iterative optimal solution of the problem of minimizing the sum of the resource use over all activities subject to the activity precedence constraints and a project deadline. The optimal solution is derived using a branch-and-bound procedure.
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Keywords
Project Scheduling & Management, Project Management, Project Scheduling