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Note---Project Selection and Sequencing to Maximize Net Present Value of the Total Return

Author

Listed:
  • Sushil K. Gupta

    (Department of Decision Sciences and Information Systems, College of Business Administration, Florida International University, Miami, Florida 33199)

  • Jerzy Kyparisis

    (Department of Decision Sciences and Information Systems, College of Business Administration, Florida International University, Miami, Florida 33199)

  • Chi-Ming Ip

    (Department of Industrial Engineering, College of Engineering, University of Miami, Coral Gables, Florida 33124)

Abstract

This note considers a problem of simultaneous selection of a subset of N projects and determination of an optimal sequence to implement these projects so as to maximize the net present value of the total return. We first establish an optimal sequence of all projects which does not depend on the particular subset of selected projects and then propose an efficient polynomial dynamic programming method for solving the problem.

Suggested Citation

  • Sushil K. Gupta & Jerzy Kyparisis & Chi-Ming Ip, 1992. "Note---Project Selection and Sequencing to Maximize Net Present Value of the Total Return," Management Science, INFORMS, vol. 38(5), pages 751-752, May.
    • Handle: RePEc:inm:ormnsc:v:38:y:1992:i:5:p:751-752
    DOI: 10.1287/mnsc.38.5.751
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    Citations

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    Cited by:

    1. Kyparisis, George J. & Gupta, Sushil K. & Ip, Chi-Ming, 1996. "Project selection with discounted returns and multiple constraints," European Journal of Operational Research, Elsevier, vol. 94(1), pages 87-96, October.
    2. Alidaee, Bahram & Kochenberger, Gary A. & Amini, Mohammad M., 2001. "Greedy solutions of selection and ordering problems," European Journal of Operational Research, Elsevier, vol. 134(1), pages 203-215, October.
    3. Somaye Geramipour & Ghasem Moslehi & Mohammad Reisi-Nafchi, 2017. "Maximizing the profit in customer’s order acceptance and scheduling problem with weighted tardiness penalty," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 68(1), pages 89-101, January.
    4. Slotnick, Susan A., 2011. "Order acceptance and scheduling: A taxonomy and review," European Journal of Operational Research, Elsevier, vol. 212(1), pages 1-11, July.
    5. Ye Tian & Miao Sun & Zuoliang Ye & Wei Yang, 2016. "Expanded models of the project portfolio selection problem with loss in divisibility," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 67(8), pages 1097-1107, August.
    6. Xiao, Yiyong & Yuan, Yingying & Zhang, Ren-Qian & Konak, Abdullah, 2015. "Non-permutation flow shop scheduling with order acceptance and weighted tardiness," Applied Mathematics and Computation, Elsevier, vol. 270(C), pages 312-333.

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