Multi-objective optimization for the multi-mode finance-based project scheduling problem

Al-Shihabi, Sameh

doi:10.1007/s42524-020-0097-1

2020-03-27

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Al-Shihabi, Sameh *

Mohammad M. AlDurgam

DOI：10.1007/s42524-020-0097-1

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摘要

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The finance-based scheduling problem (FBSP) is about scheduling project activities without exceeding a credit line financing limit. The FBSP is extended to consider different execution modes that result in the multimode FBSP (MMFBSP). Unfortunately, researchers have abandoned the development of exact models to solve the FBSP and its extensions. Instead, researchers have heavily relied on the use of heuristics and meta-heuristics, which do not guarantee solution optimality. No exact models are available for contractors who look for optimal solutions to the multi-objective MMFBSP. CPLEX, which is an exact solver, has witnessed a significant decrease in its computation time. Moreover, its current version, CPLEX 12.9, solves multi-objective optimization problems. This study presents a mixed-integer linear programming model for the multi-objective MMFBSP. Using CPLEX 12.9, we discuss several techniques that researchers can use to optimize a multi-objective MMFBSP. We test our model by solving several problems from the literature. We also show how to solve multi-objective optimization problems by using CPLEX 12.9 and how computation time increases as problem size increases. The small increase in computation time compared with possible cost savings make exact models a must for practitioners. Moreover, the linear programming-relaxation of the model, which takes seconds, can provide an excellent lower bound.

Keyword:

multi-objective optimization

finance-based scheduling

multi-mode project scheduling

mixed-integer linear programming

CPLEX