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Project Scheduling and Cost Minimization with Multiple Availability Constrained Resources under Stochastic Conditions

Project Scheduling and Cost Minimization with Multiple Availability Constrained Resources under Stochastic Conditions

Rui Moutinho, Anabela Tereso
Copyright: © 2015 |Volume: 6 |Issue: 4 |Pages: 18
ISSN: 1947-3478|EISSN: 1947-3486|EISBN13: 9781466678422|DOI: 10.4018/IJHCITP.2015100103
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MLA

Moutinho, Rui, and Anabela Tereso. "Project Scheduling and Cost Minimization with Multiple Availability Constrained Resources under Stochastic Conditions." IJHCITP vol.6, no.4 2015: pp.46-63. http://doi.org/10.4018/IJHCITP.2015100103

APA

Moutinho, R. & Tereso, A. (2015). Project Scheduling and Cost Minimization with Multiple Availability Constrained Resources under Stochastic Conditions. International Journal of Human Capital and Information Technology Professionals (IJHCITP), 6(4), 46-63. http://doi.org/10.4018/IJHCITP.2015100103

Chicago

Moutinho, Rui, and Anabela Tereso. "Project Scheduling and Cost Minimization with Multiple Availability Constrained Resources under Stochastic Conditions," International Journal of Human Capital and Information Technology Professionals (IJHCITP) 6, no.4: 46-63. http://doi.org/10.4018/IJHCITP.2015100103

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Abstract

The authors propose a mathematical model to minimize the project total cost where there are multiple resources constrained by maximum availability. They assume the resources as renewable and the activities can use any subset of resources requiring any quantity from a limited real interval. The stochastic nature is inferred by means of a stochastic work content defined per resource within an activity and following a known distribution and the total cost is the sum of the resource allocation cost with the tardiness cost or earliness bonus in case the project finishes after or before the due date, respectively. The model was computationally implemented relying upon an interchange of two global optimization metaheuristics – the electromagnetism-like mechanism and the evolutionary strategies. Two experiments were conducted testing the implementation to projects with single and multiple resources, and with or without maximum availability constraints. The set of collected results shows good behavior in general and provide a tool to further assist project manager decision making in the planning phase.

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