A Novel Project Selection Scheduling Model

Homa Amirian | Rashed Sahraeian

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URL :   http://research.shahed.ac.ir/WSR/WebPages/Report/PaperView.aspx?PaperID=43247
Date :  2016/07/13
Publish in :    International Joint Conference - CIO-ICIEOM-IIE-AIM

Link :  http://www.icieom.org/
Keywords :Project selection scheduling, reinvestment strategy, learning effect, setup time, flexible time horizon

Abstract :

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In this paper, the optimal selection of portfolio of projects is addressed. The problem is examined at operational level where every project has several jobs with certain costs, profits and due dates. The duration of each job is affected by learning effect and its setup time is dependent on the sequence and processing times of the jobs prior to it. Any profit gained from the completion of a job is reinvested in the portfolio and the time horizon is assumed flexible. The objective is to maximize the total revenue of the selected projects. A mixed integer model is presented and analyzed to address this problem.

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