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An electromagnetic time/cost trade-off optimization in project scheduling

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  • M. VANHOUCKE

Abstract

Time/cost trade-offs have been extensively studied in the literature since the development of the critical path method. Recently, the discrete version of the problem formulation has been extended to various practical assumptions, and solved with both exact and heuristic optimization procedures. In this paper, we present a electromagnetic meta-heuristic (EM) algorithm for the discrete time/cost trade-off problem under four different assumptions. We extend the standard electromagnetic meta-heuristic with problem specific features and investigate the influence of various EM specific parameters on the solution quality. We test the new meta-heuristic on a benchmark set from the literature and present extensive computational results.

Suggested Citation

  • M. Vanhoucke, 2007. "An electromagnetic time/cost trade-off optimization in project scheduling," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/457, Ghent University, Faculty of Economics and Business Administration.
    • Handle: RePEc:rug:rugwps:07/457
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    File URL: http://wps-feb.ugent.be/Papers/wp_07_457.pdf
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    References listed on IDEAS

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    Cited by:

    1. Godinho, Pedro & Branco, Fernando G., 2012. "Adaptive policies for multi-mode project scheduling under uncertainty," European Journal of Operational Research, Elsevier, vol. 216(3), pages 553-562.

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    Keywords

    discrete time/cost trade-off problem; work continuity; time/switch constraints; net present value; electromagnetism;
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