IDEAS home Printed from https://ideas.repec.org/a/spr/annopr/v213y2014i1p319-34010.1007-s10479-011-1014-0.html
   My bibliography  Save this article

Discrete-continuous project scheduling with discounted cash inflows and various payment models—a review of recent results

Author

Listed:
  • Grzegorz Waligóra

Abstract

In this work discrete-continuous project scheduling problems with discounted cash flows are considered. These problems are characterized by the fact that activities of a project simultaneously require discrete and continuous resources for their execution. A class of these problems is considered, where the number of discrete resources is arbitrary, and there is one continuous, renewable resource, whose total amount available at a time is limited. Activities are non-preemptable, and the processing rate of an activity is a continuous, increasing function of the amount of the continuous resource allotted to the activity at a time. A positive cash flow (cash inflow) is associated with each activity, and the objective is to maximize the net present value (NPV). The discrete-continuous resource-constrained project scheduling problem with discounted cash flows (DCRCPSPDCF) is defined. Four payment models are considered: lump-sum payment at the completion of the project, payments at activity completion times, payments at equal time intervals, and progress payments. Some properties of optimal schedules are proved for two important classes of processing rate functions: all functions not greater than a linear function (including linear and convex functions), and concave processing rate functions. Copyright Springer Science+Business Media, LLC 2014

Suggested Citation

  • Grzegorz Waligóra, 2014. "Discrete-continuous project scheduling with discounted cash inflows and various payment models—a review of recent results," Annals of Operations Research, Springer, vol. 213(1), pages 319-340, February.
    • Handle: RePEc:spr:annopr:v:213:y:2014:i:1:p:319-340:10.1007/s10479-011-1014-0
    DOI: 10.1007/s10479-011-1014-0
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s10479-011-1014-0
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s10479-011-1014-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mika, Marek & Waligora, Grzegorz & Weglarz, Jan, 2008. "Tabu search for multi-mode resource-constrained project scheduling with schedule-dependent setup times," European Journal of Operational Research, Elsevier, vol. 187(3), pages 1238-1250, June.
    2. Clyde L. Monma & Jeffrey B. Sidney, 1979. "Sequencing with Series-Parallel Precedence Constraints," Mathematics of Operations Research, INFORMS, vol. 4(3), pages 215-224, August.
    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. Brucker, Peter & Drexl, Andreas & Mohring, Rolf & Neumann, Klaus & Pesch, Erwin, 1999. "Resource-constrained project scheduling: Notation, classification, models, and methods," European Journal of Operational Research, Elsevier, vol. 112(1), pages 3-41, January.
    5. Weglarz, Jan & Józefowska, Joanna & Mika, Marek & Waligóra, Grzegorz, 2011. "Project scheduling with finite or infinite number of activity processing modes - A survey," European Journal of Operational Research, Elsevier, vol. 208(3), pages 177-205, February.
    6. Kolisch, R. & Padman, R., 2001. "An integrated survey of deterministic project scheduling," Omega, Elsevier, vol. 29(3), pages 249-272, June.
    7. Clyde L. Monma & Jeffrey B. Sidney, 1987. "Optimal Sequencing Via Modular Decomposition: Characterization of Sequencing Functions," Mathematics of Operations Research, INFORMS, vol. 12(1), pages 22-31, February.
    8. 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.
    9. Gündüz Ulusoy & Funda Sivrikaya-Şerifoğlu & Şule Şahin, 2001. "Four Payment Models for the Multi-Mode Resource Constrained Project Scheduling Problem with Discounted Cash Flows," Annals of Operations Research, Springer, vol. 102(1), pages 237-261, February.
    10. Elmaghraby, Salah E., 1995. "Activity nets: A guided tour through some recent developments," European Journal of Operational Research, Elsevier, vol. 82(3), pages 383-408, May.
    Full references (including those not matched with items on IDEAS)

    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. Weglarz, Jan & Józefowska, Joanna & Mika, Marek & Waligóra, Grzegorz, 2011. "Project scheduling with finite or infinite number of activity processing modes - A survey," European Journal of Operational Research, Elsevier, vol. 208(3), pages 177-205, February.
    2. He, Zhengwen & Liu, Renjing & Jia, Tao, 2012. "Metaheuristics for multi-mode capital-constrained project payment scheduling," European Journal of Operational Research, Elsevier, vol. 223(3), pages 605-613.
    3. Zhengwen He & Nengmin Wang & Pengxiang Li, 2014. "Simulated annealing for financing cost distribution based project payment scheduling from a joint perspective," Annals of Operations Research, Springer, vol. 213(1), pages 203-220, February.
    4. 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.
    5. 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).
    6. 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.
    7. He, Yukang & Jia, Tao & Zheng, Weibo, 2023. "Tabu search for dedicated resource-constrained multiproject scheduling to minimise the maximal cash flow gap under uncertainty," European Journal of Operational Research, Elsevier, vol. 310(1), pages 34-52.
    8. Yukang He & Tao Jia & Weibo Zheng, 2024. "Simulated annealing for centralised resource-constrained multiproject scheduling to minimise the maximal cash flow gap under different payment patterns," Annals of Operations Research, Springer, vol. 338(1), pages 115-149, July.
    9. Grzegorz Waligóra, 2016. "Comparative Analysis of Some Metaheuristics for Discrete-Continuous Project Scheduling with Activities of Identical Processing Rates," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 33(03), pages 1-32, June.
    10. Nursel Kavlak & Gündüz Ulusoy & Funda Sivrikaya Şerifoğlu & Ş. İlker Birbil, 2009. "Client‐contractor bargaining on net present value in project scheduling with limited resources," Naval Research Logistics (NRL), John Wiley & Sons, vol. 56(2), pages 93-112, March.
    11. 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.
    12. Luis F. Machado-Domínguez & Carlos D. Paternina-Arboleda & Jorge I. Vélez & Agustín Barrios-Sarmiento, 2022. "An adaptative bacterial foraging optimization algorithm for solving the MRCPSP with discounted cash flows," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 30(2), pages 221-248, July.
    13. Zhang, Jingwen & Elmaghraby, Salah E., 2014. "The relevance of the “alphorn of uncertainty” to the financial management of projects under uncertainty," European Journal of Operational Research, Elsevier, vol. 238(1), pages 65-76.
    14. Luise-Sophie Hoffmann & Carolin Kellenbrink & Stefan Helber, 2020. "Simultaneous structuring and scheduling of multiple projects with flexible project structures," Journal of Business Economics, Springer, vol. 90(5), pages 679-711, June.
    15. Kellenbrink, Carolin & Helber, Stefan, 2015. "Scheduling resource-constrained projects with a flexible project structure," European Journal of Operational Research, Elsevier, vol. 246(2), pages 379-391.
    16. Thomas Selle & Jürgen Zimmermann, 2003. "A bidirectional heuristic for maximizing the net present value of large‐scale projects subject to limited resources," Naval Research Logistics (NRL), John Wiley & Sons, vol. 50(2), pages 130-148, March.
    17. Park, Jongyoon & Han, Jinil & Lee, Kyungsik, 2022. "Integer Optimization Model and Algorithm for the Stem Cell Culturing Problem," Omega, Elsevier, vol. 108(C).
    18. Kolisch, R. & Padman, R., 2001. "An integrated survey of deterministic project scheduling," Omega, Elsevier, vol. 29(3), pages 249-272, June.
    19. Nima Zoraghi & Aria Shahsavar & Babak Abbasi & Vincent Peteghem, 2017. "Multi-mode resource-constrained project scheduling problem with material ordering under bonus–penalty policies," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 25(1), pages 49-79, April.
    20. 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.

    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:spr:annopr:v:213:y:2014:i:1:p:319-340:10.1007/s10479-011-1014-0. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.