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Multi-objective Optimization Algorithms with the Island Metaheuristic for Effective Project Management Problem Solving

Author

Listed:
  • Brester Christina
  • Ryzhikov Ivan
  • Semenkin Eugene

    (Reshetnev Siberian State University of Science and Technology, Institute of Computer Science and Telecommunications, 31 »Krasnoyarskiy Rabochiy« ave., Krasnoyarsk, 660037, Russian Federation)

Abstract

Background and Purpose: In every organization, project management raises many different decision-making problems, a large proportion of which can be efficiently solved using specific decision-making support systems. Yet such kinds of problems are always a challenge since there is no time-efficient or computationally efficient algorithm to solve them as a result of their complexity. In this study, we consider the problem of optimal financial investment. In our solution, we take into account the following organizational resource and project characteristics: profits, costs and risks.

Suggested Citation

  • Brester Christina & Ryzhikov Ivan & Semenkin Eugene, 2017. "Multi-objective Optimization Algorithms with the Island Metaheuristic for Effective Project Management Problem Solving," Organizacija, Sciendo, vol. 50(4), pages 364-373, December.
    • Handle: RePEc:vrs:organi:v:50:y:2017:i:4:p:364-373:n:6
    DOI: 10.1515/orga-2017-0027
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    References listed on IDEAS

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    1. Florios, Kostas & Mavrotas, George & Diakoulaki, Danae, 2010. "Solving multiobjective, multiconstraint knapsack problems using mathematical programming and evolutionary algorithms," European Journal of Operational Research, Elsevier, vol. 203(1), pages 14-21, May.
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