Project planning with alternative technologies ...
Document type :
Compte-rendu et recension critique d'ouvrage
Title :
Project planning with alternative technologies in uncertain environments
Author(s) :
Creemers, Stefan [Auteur]
Lille économie management - UMR 9221 [LEM]
IÉSEG School Of Management [Puteaux]
Reyck, Bert De [Auteur]
Leus, Roel [Auteur]
Catholic University of Leuven = Katholieke Universiteit Leuven [KU Leuven]
Lille économie management - UMR 9221 [LEM]
IÉSEG School Of Management [Puteaux]
Reyck, Bert De [Auteur]
Leus, Roel [Auteur]
Catholic University of Leuven = Katholieke Universiteit Leuven [KU Leuven]
Journal title :
European Journal of Operational Research
Pages :
465--476
Publisher :
Elsevier
Publication date :
2015-04
ISSN :
0377-2217
English keyword(s) :
Project scheduling
Uncertainty
Net present value
Alternative technologies
Stochastic activity durations
Uncertainty
Net present value
Alternative technologies
Stochastic activity durations
HAL domain(s) :
Sciences de l'Homme et Société/Gestion et management
English abstract : [en]
We investigate project scheduling with stochastic activity durations to maximize the expected net present value. Individual activities also carry a risk of failure, which can cause the overall project to fail. In the project ...
Show more >We investigate project scheduling with stochastic activity durations to maximize the expected net present value. Individual activities also carry a risk of failure, which can cause the overall project to fail. In the project planning literature, such technological uncertainty is typically ignored and project plans are developed only for scenarios in which the project succeeds. To mitigate the risk that an activity’s failure jeopardizes the entire project, more than one alternative may exist for reaching the project’s objectives. We propose a model that incorporates both the risk of activity failure and the possible pursuit of alternative technologies. We find optimal solutions to the scheduling problem by means of stochastic dynamic programming. Our algorithms prescribe which alternatives need to be explored, and how they should be scheduled. We also examine the impact of the variability of the activity durations on the project’s value.Show less >
Show more >We investigate project scheduling with stochastic activity durations to maximize the expected net present value. Individual activities also carry a risk of failure, which can cause the overall project to fail. In the project planning literature, such technological uncertainty is typically ignored and project plans are developed only for scenarios in which the project succeeds. To mitigate the risk that an activity’s failure jeopardizes the entire project, more than one alternative may exist for reaching the project’s objectives. We propose a model that incorporates both the risk of activity failure and the possible pursuit of alternative technologies. We find optimal solutions to the scheduling problem by means of stochastic dynamic programming. Our algorithms prescribe which alternatives need to be explored, and how they should be scheduled. We also examine the impact of the variability of the activity durations on the project’s value.Show less >
Language :
Anglais
Popular science :
Non
Collections :
Source :
Files
- https://discovery.ucl.ac.uk/id/eprint/1466598/1/De_Reyck_Project%2520Planning.pdf
- Open access
- Access the document
- https://ink.library.smu.edu.sg/lkcsb_research/6759
- Open access
- Access the document
- 6759
- Open access
- Access the document