Generalized Discrete Time-Cost Tradeoff Problems

Mario Vanhoucke

Chapter Chapter 30 in Handbook on Project Management and Scheduling Vol.1, 2015, pp 639-658 from Springer

Abstract: Abstract Time-cost tradeoffs 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 optimisation procedures, as described in Vanhoucke and Debels (J Sched 10:311–326, 2007).In this chapter, an overview is given of four variants of the discrete time-cost tradeoff problem and a newly developed electromagnetic meta-heuristic (EM) algorithm to solve these problems is presented. We extend the standard electromagnetic meta-heuristic with problem specific features and investigate the influence of various EM 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 tradeoff; Electromagnetic algorithm; Net present value; Project scheduling; Time-switch constraints; Work continuity constraints (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ihichp:978-3-319-05443-8_30

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DOI: 10.1007/978-3-319-05443-8_30

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