A parallel multi-objective scatter search for optimising incentive contract design in projects
dc.contributor.author | Kerkhove, Louis-Philippe | |
dc.contributor.author | Vanhoucke, Mario | |
dc.date.accessioned | 2017-12-02T15:00:35Z | |
dc.date.available | 2017-12-02T15:00:35Z | |
dc.date.issued | 2017 | |
dc.identifier.doi | 10.1016/j.ejor.2017.02.043 | |
dc.identifier.uri | http://hdl.handle.net/20.500.12127/5784 | |
dc.description.abstract | We present a novel optimisation approach for incentive contract design within a project setting. the structure of the remuneration is one of the key challenges faced by the project owner when (s)he decides to hire a contractor. The proposed technique builds on the recently proposed contract design methodology by Kerkhove and Vanhoucke (Omega, 2015). Specifically, a novel multi-objective scatter search heuristic is proposed and implemented using parallelisation. Both single- and multi-population implementations of this heuristic are compared to the original full-factorial approach as well as commercial optimisation software. The results of the computational experiments indicate that the single-population parallel scatter search procedure significantly outperforms the other solution strategies in terms of both speed and solution quality. | |
dc.language.iso | en | |
dc.subject | Project Management | |
dc.subject | Contracting | |
dc.subject | Multi-objective Optimisation | |
dc.subject | Scatter Search | |
dc.subject | Parallel Processing | |
dc.title | A parallel multi-objective scatter search for optimising incentive contract design in projects | |
dc.identifier.journal | European Journal of Operational Research | |
dc.source.volume | 261 | |
dc.source.issue | 3 | |
dc.source.beginpage | 1066 | |
dc.source.endpage | 1084 | |
vlerick.knowledgedomain | Operations & Supply Chain Management | |
vlerick.typearticle | Vlerick strategic journal article | |
vlerick.vlerickdepartment | TOM | |
dc.identifier.vperid | 172084 | |
dc.identifier.vperid | 58614 | |
dc.identifier.vpubid | 7097 |