Multi-resource allocation in stochastic project scheduling

Wolfram Wiesemann (), Daniel Kuhn and Berç Rustem

Annals of Operations Research, 2012, vol. 193, issue 1, 193-220

Abstract: We propose a resource allocation model for project scheduling. Our model accommodates multiple resources and decision-dependent activity durations inspired by microeconomic theory. First, we elaborate a deterministic problem formulation. In a second stage, we enhance this model to account for uncertain problem parameters. Assuming that the first and second moments of these parameters are known, the stochastic model minimises an approximation of the value-at-risk of the project makespan. As a salient feature, our approach employs a scenario-free formulation which is based on normal approximations of the activity path durations. We extend our model to situations in which the moments of the random parameters are ambiguous and describe an iterative solution procedure. Extensive numerical results are provided. Copyright Springer Science+Business Media, LLC 2012

Keywords: Resource allocation problem; Project scheduling; Value-at-risk (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/s10479-008-0486-z

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