IDEAS home Printed from https://ideas.repec.org/p/rug/rugwps/06-365.html
   My bibliography  Save this paper

An efficient hybrid search algorithm for various optimization problems

Author

Listed:
  • M. VANHOUCKE

Abstract

This paper describes a detailed study of a recursive search algorithm for different optimization problems. Although the algorithm has been originally developed for a project scheduling problem with financial objectives, we show that it can be extended to many other application areas and therefore, can serve as a sub-procedure for various optimization problems. The contribution of the paper is threefold. First, we present a hybrid recursive search procedure for the project scheduling problem with net present value maximization and compare it with state-of-the-art procedures by means of computational tests. Second, we show how the procedure can be adapted to two other application areas: project scheduling with work continuity minimization and the open pit mining problem. Last, we highlight some future research areas where this hybrid procedure might bring a promising contribution.

Suggested Citation

  • M. Vanhoucke, 2006. "An efficient hybrid search algorithm for various optimization problems," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 06/365, Ghent University, Faculty of Economics and Business Administration.
  • Handle: RePEc:rug:rugwps:06/365
    as

    Download full text from publisher

    File URL: http://wps-feb.ugent.be/Papers/wp_06_365.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bruce Faaland & Kiseog Kim & Tom Schmitt, 1990. "A New Algorithm for Computing the Maximal Closure of a Graph," Management Science, INFORMS, vol. 36(3), pages 315-331, March.
    2. Herroelen, Willy S. & Gallens, Els, 1993. "Computational experience with an optimal procedure for the scheduling of activities to maximize the net present value of projects," European Journal of Operational Research, Elsevier, vol. 65(2), pages 274-277, March.
    3. Herroelen, Willy S. & Van Dommelen, Patrick & Demeulemeester, Erik L., 1997. "Project network models with discounted cash flows a guided tour through recent developments," European Journal of Operational Research, Elsevier, vol. 100(1), pages 97-121, July.
    4. Mario Vanhoucke & Erik Demeulemeester & Willy Herroelen, 2001. "On Maximizing the Net Present Value of a Project Under Renewable Resource Constraints," Management Science, INFORMS, vol. 47(8), pages 1113-1121, August.
    5. Dorit S. Hochbaum & Anna Chen, 2000. "Performance Analysis and Best Implementations of Old and New Algorithms for the Open-Pit Mining Problem," Operations Research, INFORMS, vol. 48(6), pages 894-914, December.
    6. Vanhoucke, Mario & Demeulemeester, Erik & Herroelen, Willy, 2003. "Progress payments in project scheduling problems," European Journal of Operational Research, Elsevier, vol. 148(3), pages 604-620, August.
    7. M. Vanhoucke, 2004. "Work Continuity Constraints In Project Scheduling," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/265, Ghent University, Faculty of Economics and Business Administration.
    8. A. H. Russell, 1970. "Cash Flows in Networks," Management Science, INFORMS, vol. 16(5), pages 357-373, January.
    9. Jean-Claude Picard, 1976. "Maximal Closure of a Graph and Applications to Combinatorial Problems," Management Science, INFORMS, vol. 22(11), pages 1268-1272, July.
    10. Neumann, K. & Zimmermann, J., 2000. "Procedures for resource leveling and net present value problems in project scheduling with general temporal and resource constraints," European Journal of Operational Research, Elsevier, vol. 127(2), pages 425-443, December.
    11. Elmaghraby, Salah E. & Herroelen, Willy S., 1990. "The scheduling of activities to maximize the net present value of projects," European Journal of Operational Research, Elsevier, vol. 49(1), pages 35-49, November.
    12. Etgar, Ran & Shtub, Avraham & LeBlanc, Larry J., 1997. "Scheduling projects to maximize net present value -- the case of time-dependent, contingent cash flows," European Journal of Operational Research, Elsevier, vol. 96(1), pages 90-96, January.
    13. Christoph Schwindt & Jürgen Zimmermann, 2001. "A steepest ascent approach to maximizing the net present value of projects," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 53(3), pages 435-450, July.
    14. De Reyck, Bert & Herroelen, willy, 1998. "A branch-and-bound procedure for the resource-constrained project scheduling problem with generalized precedence relations," European Journal of Operational Research, Elsevier, vol. 111(1), pages 152-174, November.
    15. Khaled El-Rayes & Osama Moselhi, 1998. "Resource-driven scheduling of repetitive activities," Construction Management and Economics, Taylor & Francis Journals, vol. 16(4), pages 433-446.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Peymankar, Mahboobeh & Davari, Morteza & Ranjbar, Mohammad, 2021. "Maximizing the expected net present value in a project with uncertain cash flows," European Journal of Operational Research, Elsevier, vol. 294(2), pages 442-452.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. He, Zhengwen & Wang, Nengmin & Jia, Tao & Xu, Yu, 2009. "Simulated annealing and tabu search for multi-mode project payment scheduling," European Journal of Operational Research, Elsevier, vol. 198(3), pages 688-696, November.
    2. Mika, Marek & Waligora, Grzegorz & Weglarz, Jan, 2005. "Simulated annealing and tabu search for multi-mode resource-constrained project scheduling with positive discounted cash flows and different payment models," European Journal of Operational Research, Elsevier, vol. 164(3), pages 639-668, August.
    3. Hartmann, Sönke & Briskorn, Dirk, 2010. "A survey of variants and extensions of the resource-constrained project scheduling problem," European Journal of Operational Research, Elsevier, vol. 207(1), pages 1-14, November.
    4. Wenhui Zhao & Nicholas G. Hall & Zhixin Liu, 2020. "Project Evaluation and Selection with Task Failures," Production and Operations Management, Production and Operations Management Society, vol. 29(2), pages 428-446, February.
    5. Mario Vanhoucke & Erik Demeulemeester & Willy Herroelen, 2001. "On Maximizing the Net Present Value of a Project Under Renewable Resource Constraints," Management Science, INFORMS, vol. 47(8), pages 1113-1121, August.
    6. Hartmann, Sönke & Briskorn, Dirk, 2008. "A survey of variants and extensions of the resource-constrained project scheduling problem," Working Paper Series 02/2008, Hamburg School of Business Administration (HSBA).
    7. Leyman, Pieter & Vanhoucke, Mario, 2017. "Capital- and resource-constrained project scheduling with net present value optimization," European Journal of Operational Research, Elsevier, vol. 256(3), pages 757-776.
    8. Joseph G. Szmerekovsky & George L. Vairaktarakis, 2006. "Maximizing project cash availability," Naval Research Logistics (NRL), John Wiley & Sons, vol. 53(4), pages 272-284, June.
    9. Wiesemann, Wolfram & Kuhn, Daniel & Rustem, Berç, 2010. "Maximizing the net present value of a project under uncertainty," European Journal of Operational Research, Elsevier, vol. 202(2), pages 356-367, April.
    10. Creemers, Stefan, 2018. "Maximizing the expected net present value of a project with phase-type distributed activity durations: An efficient globally optimal solution procedure," European Journal of Operational Research, Elsevier, vol. 267(1), pages 16-22.
    11. Kolisch, R. & Padman, R., 2001. "An integrated survey of deterministic project scheduling," Omega, Elsevier, vol. 29(3), pages 249-272, June.
    12. Peymankar, Mahboobeh & Davari, Morteza & Ranjbar, Mohammad, 2021. "Maximizing the expected net present value in a project with uncertain cash flows," European Journal of Operational Research, Elsevier, vol. 294(2), pages 442-452.
    13. He, Zhengwen & Xu, Yu, 2008. "Multi-mode project payment scheduling problems with bonus-penalty structure," European Journal of Operational Research, Elsevier, vol. 189(3), pages 1191-1207, September.
    14. Etgar, Ran & Gelbard, Roy & Cohen, Yuval, 2017. "Optimizing version release dates of research and development long-term processes," European Journal of Operational Research, Elsevier, vol. 259(2), pages 642-653.
    15. Neumann, K. & Schwindt, C. & Zimmermann, J., 2003. "Order-based neighborhoods for project scheduling with nonregular objective functions," European Journal of Operational Research, Elsevier, vol. 149(2), pages 325-343, September.
    16. Vanhoucke, Mario & Demeulemeester, Erik & Herroelen, Willy, 2003. "Progress payments in project scheduling problems," European Journal of Operational Research, Elsevier, vol. 148(3), pages 604-620, August.
    17. De Reyck, Bert & Herroelen, willy, 1998. "A branch-and-bound procedure for the resource-constrained project scheduling problem with generalized precedence relations," European Journal of Operational Research, Elsevier, vol. 111(1), pages 152-174, November.
    18. M. Vanhoucke, 2007. "An electromagnetic time/cost trade-off optimization in project scheduling," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/457, Ghent University, Faculty of Economics and Business Administration.
    19. Thomas Schmitt & Bruce Faaland, 2004. "Scheduling recurrent construction," Naval Research Logistics (NRL), John Wiley & Sons, vol. 51(8), pages 1102-1128, December.
    20. Chen, Jiaqiong & Askin, Ronald G., 2009. "Project selection, scheduling and resource allocation with time dependent returns," European Journal of Operational Research, Elsevier, vol. 193(1), pages 23-34, February.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rug:rugwps:06/365. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Nathalie Verhaeghe (email available below). General contact details of provider: https://edirc.repec.org/data/ferugbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.