A resource investment problem with time/resource trade-offs


Colak E., AZİZOĞLU M.

JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY, vol.65, no.5, pp.777-790, 2014 (Peer-Reviewed Journal) identifier identifier

  • Publication Type: Article / Article
  • Volume: 65 Issue: 5
  • Publication Date: 2014
  • Doi Number: 10.1057/jors.2013.46
  • Journal Name: JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY
  • Journal Indexes: Science Citation Index Expanded, Social Sciences Citation Index, Scopus
  • Page Numbers: pp.777-790
  • Keywords: project scheduling, resource investment, time/resource trade-offs, PROJECT SCHEDULING PROBLEM, GENETIC ALGORITHM, AVAILABILITY COST, TIME, NETWORKS, PENALTY

Abstract

In this study, we consider a Resource Investment Problem with time/resource trade-offs in project networks. We assume that there is a single renewable resource and the processing requirement of an activity can be reduced by investing extra resources. Our aim is to minimize the maximum resource usage, hence, the total amount invested for the single resource, while meeting the pre-specified deadline. We formulate the problem as a mixed integer linear model and find optimal solutions for small-sized problem instances. For large-sized problem instances, we propose a heuristic solution procedure. We develop several lower bounds and use them to evaluate the performance of our heuristic procedure. The results of our computational experiments have revealed the satisfactory behaviour of our optimality properties, lower bounds and heuristic procedure.