International Journal of Industrial Engineering and Management

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Vol. 5 No. 3 (2014)
Original Research Article

A Backward Approach for Maximizing Net Present Value of Multi-mode Pre-emptive Resource-Constrained Project Scheduling Problem with Discounted Cash Flows Using Simulated Annealing Algorithm

Aidin Delgoshaei
University Putra Malaysia, Department of Mechanical and Manufacturing Engineering
Bio
Mohd Khairol Ariffin
University Putra Malaysia, Department of Mechanical and Manufacturing Engineering
Bio
B. T. Hang Tuah Bin Baharudin
University Putra Malaysia, Department of Mechanical and Manufacturing Engineering
Bio
Zulkiflle Leman
University Putra Malaysia, Department of Mechanical and Manufacturing Engineering
Bio

Published 2014-09-30

abstract views: 13 // FULL TEXT ARTICLE (PDF): 0


Keywords

  • Project Scheduling,
  • Pre-emptive,
  • Resource-Constrained,
  • Simulated Annealing

How to Cite

Delgoshaei, A., Ariffin, M. K., Bin Baharudin, B. T. H. T., & Leman, Z. (2014). A Backward Approach for Maximizing Net Present Value of Multi-mode Pre-emptive Resource-Constrained Project Scheduling Problem with Discounted Cash Flows Using Simulated Annealing Algorithm. International Journal of Industrial Engineering and Management, 5(3), 151–158. https://doi.org/10.24867/IJIEM-2014-3-117

Abstract

In this article, a backward approach for maximizing net present value (NPV) in multi-mode resource constrained project scheduling problem while assuming discounted positive cash flows (MRCPSP-DC)is proposed. The progress payment method is used and all resources are considered as pre-emptible. The proposed approach maximizes NPV using unscheduled resources through resource calendar in backward mode. A simulated annealing algorithm is developed for solving experimental cases with 50 variables and results are compared with forward serial programming method. The remarkableresults demonstratethat the proposed methodcan effectively improve NPV inMRCPSP-DC while activity splitting is allowed.

 

Article history: Received (25.07.2014); Revised (10.09.2014); Accepted (01.10.2014)  

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