A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value

This paper examines the use of stochastic scheduling rules for maximizing the net present value of a project. A comprehensive set of 1440 test problems, representing five different project characteristics, is constructed. These test problems are used to evaluate the performance of nine stochastic sc...

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Main Authors: Yang, Kum Khiong, Tay, L C, Sum, C. C.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 1995
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Online Access:https://ink.library.smu.edu.sg/lkcsb_research/2225
https://doi.org/10.1016/0377-2217(94)00039-f
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spelling sg-smu-ink.lkcsb_research-32242010-09-23T12:30:04Z A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value Yang, Kum Khiong Tay, L C Sum, C. C. This paper examines the use of stochastic scheduling rules for maximizing the net present value of a project. A comprehensive set of 1440 test problems, representing five different project characteristics, is constructed. These test problems are used to evaluate the performance of nine stochastic scheduling rules. A simulated annealing scheduling procedure is shown to perform best, generating the highest net present values for most of the test problems. In certain environments, two previously examined rules, the Rank Positional Weight and a Discounted Cumulative Cash Flow Weight rule, also perform well with high net present values. 1995-01-01T08:00:00Z text https://ink.library.smu.edu.sg/lkcsb_research/2225 info:doi/10.1016/0377-2217(94)00039-f https://doi.org/10.1016/0377-2217(94)00039-f Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Project scheduling Stochastic sampling Simulated annealing Business
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Project scheduling
Stochastic sampling
Simulated annealing
Business
spellingShingle Project scheduling
Stochastic sampling
Simulated annealing
Business
Yang, Kum Khiong
Tay, L C
Sum, C. C.
A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value
description This paper examines the use of stochastic scheduling rules for maximizing the net present value of a project. A comprehensive set of 1440 test problems, representing five different project characteristics, is constructed. These test problems are used to evaluate the performance of nine stochastic scheduling rules. A simulated annealing scheduling procedure is shown to perform best, generating the highest net present values for most of the test problems. In certain environments, two previously examined rules, the Rank Positional Weight and a Discounted Cumulative Cash Flow Weight rule, also perform well with high net present values.
format text
author Yang, Kum Khiong
Tay, L C
Sum, C. C.
author_facet Yang, Kum Khiong
Tay, L C
Sum, C. C.
author_sort Yang, Kum Khiong
title A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value
title_short A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value
title_full A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value
title_fullStr A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value
title_full_unstemmed A Comparison of Stochastic Scheduling Rules for Maximising Project Net Present Value
title_sort comparison of stochastic scheduling rules for maximising project net present value
publisher Institutional Knowledge at Singapore Management University
publishDate 1995
url https://ink.library.smu.edu.sg/lkcsb_research/2225
https://doi.org/10.1016/0377-2217(94)00039-f
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