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    A scatter search procedure for maximizing the net present value of a project under renewable resource constraints

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    Publication type
    Working paper
    Author
    Vanhoucke, Mario
    Publication Year
    2006
    Publication Issue
    40
    Publication Number of pages
    36
    
    Metadata
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    Abstract
    In this paper, we present a meta-heuristic algorithm for the well-known resource-constrained project scheduling problem with discounted cash flows. This optimization procedure maximizes the net present value of project subject to the precedence and renewable resource constraints. The problem is known to be NP-hard. We investigate the use of a enhanced bi-directional generation scheme and a recursive forward/backward improvement method and embed them in a meta-heuristic scatter search framework. We generate a large dataset of project instances under a controlled design and report detailed computational results. The solutions and project instances can be downloaded from a website in order to facilitate comparison with future research attempts. Keywords: Resource-constrained project scheduling, Net present value, Scatter search
    Keyword
    Programme & Portfolio Management
    Knowledge Domain/Industry
    Operations & Supply Chain Management
    URI
    http://hdl.handle.net/20.500.12127/2238
    Other links
    http://public.vlerick.com/Publications/7dad361f-6aa9-e011-8a89-005056a635ed.pdf
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