• Login
    View Item 
    •   Vlerick Repository Home
    • Research Output
    • Articles
    • View Item
    •   Vlerick Repository Home
    • Research Output
    • Articles
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

    All of Vlerick RepositoryCommunities & CollectionsPublication DateAuthorsTitlesSubjectsKnowledge Domain/IndustryThis CollectionPublication DateAuthorsTitlesSubjectsKnowledge Domain/Industry

    My Account

    LoginRegister

    Contact & Info

    ContactVlerick Journal ListOpen AccessVlerick Business School

    Statistics

    Display statistics

    The impact of solution representations on heuristic net present value optimization in discrete time/cost trade-off project scheduling with multiple cash flow and payment models

    • CSV
    • RefMan
    • EndNote
    • BibTex
    • RefWorks
    Thumbnail
    Name:
    Publisher version
    View Source
    Access full-text PDFOpen Access
    View Source
    Check access options
    Check access options
    Publication type
    Journal article with impact factor
    Author
    Leyman, Pieter
    Van Driessche, Niels
    Vanhoucke, Mario
    De Causmaecker, Patrick
    Publication Year
    2019
    Journal
    Computers and Operations Research
    Publication Volume
    103
    Publication Issue
    March
    Publication Begin page
    184
    Publication End page
    197
    
    Metadata
    Show full item record
    Abstract
    The goal of this paper is to investigate the impact of different solution representations, as part of a metaheuristic approach, on net present value optimization in project scheduling. We specifically consider the discrete time/cost trade-off problem with net present value optimization and apply three payment models from literature. Each of these models determines the timing and size of cash flows from the contractor’s viewpoint. The contribution of this paper to literature is twofold. First, we include cash flow distribution variants in the payment models, to also distinguish between different manners in which value is created and costs are incurred, as part of a general model for the contractor’s cash flow management. This general model is developed in order to explicitly include the progress of activities in the determination of the timing and size of payments to the contractor, which is currently lacking in literature. Second, we employ an iterated local search framework to compare different solution representations and their corresponding local search and repair heuristics. The goal is to unambiguously show that the choice of a solution representation deserves a fair amount of attention, alongside the selection of appropriate diversification and intensification operators, even though this is not always the case in literature. Each part of the proposed algorithm is validated on a large dataset of test instances, generated to allow for a broad comparison of the solution representations. Our results clearly quantify the statistically significant differences between three types of representations for the project scheduling problem under study.
    Keyword
    Project Scheduling, Net Present Value, Discrete Time/Cost Trade-off, Heuristics, Solution Representations
    Knowledge Domain/Industry
    Operations & Supply Chain Management
    DOI
    10.1016/j.cor.2018.11.011
    URI
    http://hdl.handle.net/20.500.12127/6125
    ae974a485f413a2113503eed53cd6c53
    10.1016/j.cor.2018.11.011
    Scopus Count
    Collections
    Articles

    entitlement

     
    DSpace software (copyright © 2002 - 2023)  DuraSpace
    Quick Guide | Contact Us
    Open Repository is a service operated by 
    Atmire NV
     

    Export search results

    The export option will allow you to export the current search results of the entered query to a file. Different formats are available for download. To export the items, click on the button corresponding with the preferred download format.

    By default, clicking on the export buttons will result in a download of the allowed maximum amount of items.

    To select a subset of the search results, click "Selective Export" button and make a selection of the items you want to export. The amount of items that can be exported at once is similarly restricted as the full export.

    After making a selection, click one of the export format buttons. The amount of items that will be exported is indicated in the bubble next to export format.