Two sequencing problems: equivalence, optimal solution, and state-of-the-art results

Stefan Creemers

No 596801, Working Papers of Department of Decision Sciences and Information Management, Leuven from KU Leuven, Faculty of Economics and Business (FEB), Department of Decision Sciences and Information Management, Leuven

Abstract: We show that the serial SNPV and the LCFDP are equivalent. The serial SNPV is a special case of the SNPV that tries maximize the expected NPV of a project by sequencing activities that have stochastic durations and cash flows that are incurred at the start of an activity. The LCFDP, on the other hand, minimizes the expected cost of the sequential diagnosis of a set of tests that have known execution costs and failure probabilities.

Keywords: Least cost fault detection problem; Sequential testing problem; Stochastic net present value maximization; Project scheduling (search for similar items in EconPapers)
Date: 2017-10
New Economics Papers: this item is included in nep-ppm
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Published in FEB Research Report KBI_1720

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