NDLI: Project scheduling for maximum NPV with variable activity durations and uncertain activity outcomes

Content Provider	IEEE Xplore Digital Library
Author	Creemers, S. Leus, R. De Reyck, B. Lambrecht, M.
Copyright Year	2008
Description	Author affiliation: Dept. of Manage. Sci. & Innovation, Univ. Coll. London, London, UK (De Reyck, B.) \|\| Dept. of Decision Sci. & Inf. Manage., K.U.Leuven, Leuven, Belgium (Creemers, S.; Leus, R.; Lambrecht, M.)
Abstract	The literature on project scheduling with uncertain activity durations is still in its burn-in phase. We examine project scheduling with net-present-value objective and exponential activity durations by means of a backward stochastic dynamic programming recursion. We examine the particular setting in which the individual activities carry a risk of failure, and where an activity¿s failure results in the project¿s overall failure. In the project planning and scheduling literature, this technological uncertainty has typically been ignored and project plans are developed only for scenarios in which the project succeeds.
Starting Page	183
Ending Page	187
File Size	554913
Page Count	5
File Format	PDF
ISBN	9781424426294
DOI	10.1109/IEEM.2008.4737856
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2008-12-08
Publisher Place	Singapore
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Job shop scheduling Uncertainty Profitability project scheduling Project management Stochastic processes Information management Distributed computing Research and development stochastic activity durations exponential distribution Innovation management net present value Resource management
Content Type	Text
Resource Type	Article

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