Two-stage profit optimization model for linear scheduling problems considering cash flow

Shu-Shun Liu and Chang-Jung Wang

Construction Management and Economics, 2009, vol. 27, issue 11, 1023-1037

Abstract: Linear projects with repetitive activity in units are considered for investigation, and a two-stage profit optimization model for linear scheduling problems using constraint programming (CP) is proposed. To maintain work continuity for repetitive activities, interruption time and crew availability are addressed, and the optimization process is presented as follows: (1) optimizing the primary objective (project profit); (2) minimizing total interruption time, given the optimized value of the primary objective. Repetitive activities incur batches of budget expenditure according to activity implementation time. Cash flow and financial elements are therefore integrated into the optimization model. Owing to flexible CP techniques, contractors' requirements, such as credit limit and payment conditions, can be integrated simply into the model formulation for practical use. Lastly, a bridge example is adopted, with various constraints such as duration limitation, for scenario analysis. Consequently, the two-stage optimization process optimizes project profit, and also maximizes work continuity for linear scheduling problems.

Keywords: Two-stage profit optimization; linear scheduling problems; cash flow; constraint programming (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/01446190903233111 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:conmgt:v:27:y:2009:i:11:p:1023-1037

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RCME20

DOI: 10.1080/01446190903233111

Access Statistics for this article

Construction Management and Economics is currently edited by Will Hughes

More articles in Construction Management and Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().