Chance-Constrained Programming Model for Optimal Project Selection and Scheduling

Tian-yi Zhao and Xiao-xia Huang ()
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Tian-yi Zhao: University of Science and Technology Beijing
Xiao-xia Huang: University of Science and Technology Beijing

Chapter Chapter 27 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 243-250 from Springer

Abstract: Abstract This study discusses the optimizing project selection and scheduling problems. In real life, cash inflows and cash outflows of each project are uncertain, we regard them as stochastic variables consequently. Considering time value of capital, Net present value is used as the standard to measure the projects and introduce chance-constraints to control the uncertainty and formulate the model. According to the logical relationship and the characters of projects, we introduce implicit enumeration algorithm to select appropriate projects and schedule them in a reasonable order. Finally, a numerical example is given to express the thought of the model.

Keywords: Chance-constrained programming; Project selection; Implicit enumeration algorithm (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38433-2_27

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DOI: 10.1007/978-3-642-38433-2_27

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