Volume 40, Issue 1 (9-2021)                   JCME 2021, 40(1): 17-42 | Back to browse issues page

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Moomivand S, Davari-Ardakani H, Mosadegh H, Abouei Ardakan M. Multi-mode Resource Constrained Project Selection and Scheduling Considering the Reinvestment Strategy in a Flexible Time Horizon. JCME. 2021; 40 (1) :17-42
URL: http://jcme.iut.ac.ir/article-1-818-en.html
1- Department of Industrial Engineering, Faculty of Engineering, Kharazmi University, Tehran, Iran
2- Department of Industrial Engineering, Faculty of Engineering, Kharazmi University, Tehran, Iran , davari@khu.ac.ir
3- Department of Industrial Engineering and Management Systems, Amirkabir University of Technology, Tehran, Iran
Abstract:   (901 Views)
In this paper, a multi-mode resource constrained project selection and scheduling problem is investigated considering the reinvestment strategy in a flexible time horizon. Among a set of available projects, a number of projects are selected and scheduled regarding the constraints on renewable resources and precedence relations. The benefits of project portfolio selection and scheduling are compared in both fixed and flexible time horizons. For this purpose, upper and lower tolerance limits are considered for the predetermined time horizon. If the schedule exceeds the time horizon, a penalty cost will be charged. The objective is to determine the optimal time horizon. A mixed-integer linear programming model is proposed for this problem, and solved by GAMS software/CPLEX solver and also a combination of a proposed heuristic algorithm, Genetic Algorithm, and a local search method. Numerical results show that the proposed approach has an acceptable performance in terms of the quality of the solution and the running time. Also, dealing with the problem in a flexible time horizon is more profitable compared to a fixed time horizon.
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Type of Study: Research | Subject: Special
Received: 2020/01/4 | Accepted: 2020/03/7 | Published: 2021/09/1

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