An electromagnetic time/cost trade-off optimization in project scheduling

Mario Vanhoucke

Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium from Ghent University, Faculty of Economics and Business Administration

Abstract: Time/cost trade-offs have been extensively studied in the literature since the development of the critical path method. Recently, the discrete version of the problem formulation has been extended to various practical assumptions, and solved with both exact and heuristic optimization procedures. In this paper, we present a electromagnetic meta-heuristic (EM) algorithm for the discrete time/cost trade-off problem under four different assumptions. We extend the standard electromagnetic meta-heuristic with problem specific features and investigate the influence of various EM specific parameters on the solution quality. We test the new meta-heuristic on a benchmark set from the literature and present extensive computational results.

Keywords: discrete time/cost trade-off problem; work continuity; time/switch constraints; net present value; electromagnetism (search for similar items in EconPapers)
Pages: 21 pages
Date: 2007-04
New Economics Papers: this item is included in nep-bec and nep-ppm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:rug:rugwps:07/457

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