Project selection and scheduling with uncertain net income and investment cost

This paper discusses an R & D project selection and scheduling problem in which there are no historical data about the project parameter values. The net income and investment cost in the problem are given by experts’ evaluations and treated as uncertain variables. The different interactions amon...

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Bibliographic Details
Published inApplied mathematics and computation Vol. 247; pp. 61 - 71
Main Authors Huang, Xiaoxia, Zhao, Tianyi
Format Journal Article
LanguageEnglish
Published Elsevier Inc 15.11.2014
Subjects
Equivalence
Financing
Flexibility
Genetic algorithm
Income
Investment
Mathematical models
Optimization
Project scheduling
Project selection
Scheduling
Uncertain modelling
Uncertain programming
Project scheduling
Uncertain modelling
Project selection
Uncertain programming
Genetic algorithm
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ISSN0096-3003
1873-5649
DOI10.1016/j.amc.2014.08.082

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Summary:This paper discusses an R & D project selection and scheduling problem in which there are no historical data about the project parameter values. The net income and investment cost in the problem are given by experts’ evaluations and treated as uncertain variables. The different interactions among projects and the flexibility of project beginning time are considered. A new cost overrun risk is employed and a new optimisation model for R & D project selection and scheduling problem is given. Furthermore, deterministic equivalents of the model are presented and a genetic algorithm is designed for solving the proposed problem. As an illustration, a numerical example is provided.
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ISSN:0096-3003
1873-5649
DOI:10.1016/j.amc.2014.08.082