New Computational Results on the Discrete Time/Cost Trade-Off Problem in Project Networks
Demeulemeester, E Reyck, B De Foubert, B Herroelen, W Vanhoucke, M
Demeulemeester, E
Reyck, B De
Foubert, B
Herroelen, W
Vanhoucke, M
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
1998-11
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
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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
46 Information and Computing Sciences, 49 Mathematical Sciences, 35 Commerce, Management, Tourism and Services