Multi-objective optimization model for multi-project scheduling on critical chain

Wang, Weixin; Wang, Xu; Ge, Xianlong; Deng, Lei

doi:10.1016/j.advengsoft.2013.11.004

Cited by 42 publications

(26 citation statements)

References 15 publications

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“…Wang and X. Wang also developed multi-objective optimization model based on critical chain and network graphs. It takes into account overall duration, project costs and network graph robustness and allows creation of several alternative schedules (Wang et al, 2014). They are ranged by priority by using cloud genetic algorithms.…”

Section: Discussionmentioning

confidence: 99%

“…The network graph plays important role among these schedules (Parveen & Saha, 2012). The optimized network graph can be used subsequently as an evident source of standard values regarding terms and cost of realisation of separate operations and packages of works within the project (Wang et al, 2014). Solving this problem requires simultaneous time-cost optimization.…”

Section: Introductionmentioning

confidence: 99%

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Genetic Algorithm of Network Graph Multi-Objective Optimization as an Instrument of Project Monitoring

Prokopyev¹

2014

ASS

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Proper tracking of progress remains a vital part of modern project management, defining prospects of successful implementation of planned tasks. There are several popular concepts of project monitoring, such as logical framework approach (LFA), earned value management (EVM), etc., and each of them depends on properly optimized network graph that represents dependences between project tasks. Article describes the features and problems of multi-objective optimization in project management with reference to network graphs. The significant role of network graph optimization for project monitoring systems is proved and the model of multi-objective optimization of the network graph on criterion functions of duration and project cost based on NSGA-II genetic algorithm is proposed as the main purpose of research. Model takes into account the reserves of time on a critical way of the network graph, possibility of decreasing the load of available resources at the expense of time reserves on non-critical ways of the network graph, variety of used resources and options of delegation. One of its main advantages is quite low laboriousness of implementation, that depends on number of nodes on the network graph of the project and on number of possible options of delegation for the project tasks with several alternatives of delegation. Model has been tested on sample project with real data and results have been analyzed.

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Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Genetic Algorithm of Network Graph Multi-Objective Optimization as an Instrument of Project Monitoring

Prokopyev¹

2014

ASS

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“…A multi-objective optimization model, which considers multi-objectives, such as overall duration, financing costs, and whole robustness, was developed for multi-project scheduling in a critical chain [18]. Yang and Fu proposed a multi-project schedule method based on task priority, evidence reasoning, and critical chain approach [19].…”

Section: Introduction and Literature Reviewmentioning

confidence: 99%

An Integrated Efficiency–Risk Approach in Sustainable Project Control

et al. 2017

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Abstract:The lack of integrated project control techniques covering both qualitative and quantitative indices is one of the most important reasons leading to unfinished projects under predetermined schedules and expected budgets. Two modern techniques proposed in project control-the critical chain method and buffer management (CCM/BM), and the earned value analysis or earned value management and earned schedule (EVM/ES)-both have advantages and disadvantages. Goldratt proposed the CCM/BM method in 1997 based on the theory of constraint (TOC), but this method was not successful despite some improvements in project control because of some executive reasons. The most noteworthy constraint of this method is the management of time and time risks (use of a time buffer) of the project more than the subject. Goldratt believed that time control could be the most critical issue in project control. In other words, the overall problems associated with each project can be solved as long as the buffer time is under control and there is no need to control the other items. EVM/ES is one of the important techniques used to calculate real project development; it has been used for the integrated management of sustainable projects in recent decades. Using this technique, project managers can predict the final status of the project in terms of the necessary time and cost to finish the project. However, this method is limited by the management of the project cost and the lack of interference in the project risks. In sum, the CCM/BM method focuses on time and its risks associated with the project, thus making it advantageous to other techniques. Conversely, EVM/ES focuses on the costs or schedule with non-probabilistic assumptions, giving some interesting results. Therefore, this study aims to represent an integrated framework that considers the advantages of both CCM/BM and EVM/ES, called the efficiency-risk approach, which is implemented to control sustainable projects efficiently. This hybrid form can simultaneously control all the parameters, including both quantitative and qualitative variables, time, cost, and risk in conjunction with the project. Schedule and cost buffers of the project are derived using new formulations that provide appropriate estimations on the duration and cost for completing the sustainable projects and the relevant risks. The proposed ideas are analyzed and described through an industrial case study in the Steel Company, Isfahan, Iran.

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“…[8] addresses multi-project scheduling in a critical chain problem. In this paper, a multi-objective optimization model has been proposed and used to generate alternative schedules based on the importance of different projects and objectives [8]. Many other models are proposed to present the relationship between resources allocation and schedule optimization, which try to find the most optimal approach for solving the resource-constrained project scheduling problem [9]- [11].…”

Section: Introductionmentioning

confidence: 99%

“…Many of those models have been built to optimize this problem considering the scheduling process for a specific period only or at period one [5]- [7]. [8] addresses multi-project scheduling in a critical chain problem. In this paper, a multi-objective optimization model has been proposed and used to generate alternative schedules based on the importance of different projects and objectives [8].…”

Section: Introductionmentioning

confidence: 99%

Evaluation Indexes of Degree of Closeness between Strategy and Project Portfolio Allocation

Bai¹,

Bai²

2015

AJOR

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The main activities in project portfolio allocation management are selecting the right project components given a strategy. It is crucial to establish a scientific system of evaluation indexes to guarantee the closeness between strategy and project portfolio allocation optimally. With organizations growing in sizes, the functions and objectives of project components are becoming more and more different. It is necessary to set evaluation indexes of the degree of closeness from the perspectives of financial, market share, social effects, and so on according to the strategy-oriented process of project portfolio allocation. This paper proposes a project portfolio allocation process under strategic orientation and evaluation indexes of the degree of closeness between strategy and project portfolio allocation. This will help projects managers make portfolio allocation decisions.

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Multi-objective optimization model for multi-project scheduling on critical chain

Cited by 42 publications

References 15 publications

Genetic Algorithm of Network Graph Multi-Objective Optimization as an Instrument of Project Monitoring

Genetic Algorithm of Network Graph Multi-Objective Optimization as an Instrument of Project Monitoring

An Integrated Efficiency–Risk Approach in Sustainable Project Control

Evaluation Indexes of Degree of Closeness between Strategy and Project Portfolio Allocation

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