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A resource investment problem with time/resource trade-offs

Author

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  • Erdem Colak

    (Department of Industrial Engineering, Middle East Technical University, Ankara, Turkey)

  • Meral Azizoglu

    (Department of Industrial Engineering, Middle East Technical University, Ankara, Turkey)

Abstract

In this study, we consider a Resource Investment Problem with time/resource trade-offs in project networks. We assume that there is a single renewable resource and the processing requirement of an activity can be reduced by investing extra resources. Our aim is to minimize the maximum resource usage, hence, the total amount invested for the single resource, while meeting the pre-specified deadline. We formulate the problem as a mixed integer linear model and find optimal solutions for small-sized problem instances. For large-sized problem instances, we propose a heuristic solution procedure. We develop several lower bounds and use them to evaluate the performance of our heuristic procedure. The results of our computational experiments have revealed the satisfactory behaviour of our optimality properties, lower bounds and heuristic procedure.

Suggested Citation

  • Erdem Colak & Meral Azizoglu, 2014. "A resource investment problem with time/resource trade-offs," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 65(5), pages 777-790, May.
    • Handle: RePEc:pal:jorsoc:v:65:y:2014:i:5:p:777-790
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    Citations

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    Cited by:

    1. Patrick Gerhards, 2020. "The multi-mode resource investment problem: a benchmark library and a computational study of lower and upper bounds," OR Spectrum: Quantitative Approaches in Management, Springer;Gesellschaft für Operations Research e.V., vol. 42(4), pages 901-933, December.
    2. Hartmann, Sönke & Briskorn, Dirk, 2022. "An updated survey of variants and extensions of the resource-constrained project scheduling problem," European Journal of Operational Research, Elsevier, vol. 297(1), pages 1-14.
    3. Aria Shahsavar & Nima Zoraghi & Babak Abbasi, 2018. "Integration of resource investment problem with quantity discount problem in material ordering for minimizing resource costs of projects," Operational Research, Springer, vol. 18(2), pages 315-342, July.

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