Discrete time/cost trade-off problem: A decomposition-based solution algorithm for the budget version |
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| Authors: |
ncü Haz&#x r, Mohamed Haouari,Erdal Erel |
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| Affiliation: | aIndustrial Engineering Department, Çankaya University, Ankara 06530, Turkey;bFaculty of Business Administration, Bilkent University, Ankara 06800, Turkey;cDepartment of Industrial and Systems Engineering, Faculty of Engineering, Ozyegin University, Istanbul, Turkey;dPrincess Fatimah Alnijris's Research Chair for AMT, College of Engineering, King Saud University, Saudi Arabia |
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| Abstract: | This paper investigates the budget variant of the discrete time/cost trade-off problem (DTCTP). This multi-mode project scheduling problem requires assigning modes to the activities of a project so that the total completion time is minimized and the budget and the precedence constraints are satisfied. This problem is often encountered in practice as timely completion of the projects without exceeding the budget is crucial. The contribution of this paper to the literatures is to describe an effective Benders Decomposition-based exact algorithm to solve the DTCTP instances of realistic sizes. Although Benders Decomposition often exhibits a very slow convergence, we have included several algorithmic features to enhance the performance of the proposed tailored approach. Computational results attest to the efficacy of the proposed algorithm, which can solve large-scale instances to optimality. |
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| Keywords: | Project scheduling Time/cost trade-off Benders Decomposition |
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