A generalized network flow model for the multi-mode resource-constrained project scheduling problem with discounted cash flows

Miawjane Chen, Shangyao Yan, Sin Siang Wang, Chiu Lan Liu

Research output: Contribution to journalArticlepeer-review

12 Scopus citations

Abstract

An effective project schedule is essential for enterprises to increase their efficiency of project execution, to maximize profit, and to minimize wastage of resources. Heuristic algorithms have been developed to efficiently solve the complicated multi-mode resource-constrained project scheduling problem with discounted cash flows (MRCPSPDCF) that characterize real problems. However, the solutions obtained in past studies have been approximate and are difficult to evaluate in terms of optimality. In this study, a generalized network flow model, embedded in a time-precedence network, is proposed to formulate the MRCPSPDCF with the payment at activity completion times. Mathematically, the model is formulated as an integer network flow problem with side constraints, which can be efficiently solved for optimality, using existing mathematical programming software. To evaluate the model performance, numerical tests are performed. The test results indicate that the model could be a useful planning tool for project scheduling in the real world.

Original languageEnglish
Pages (from-to)165-183
Number of pages19
JournalEngineering Optimization
Volume47
Issue number2
DOIs
StatePublished - 1 Feb 2015

Keywords

  • MRCPSPDCF
  • network flows
  • payment at activity completion times
  • project scheduling
  • time-precedence network

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