Client-Contractor Bargaining on Net Present Value in Project Scheduling with Limited Resources
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Dosyalar
Tarih
2009
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Wiley
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
The client-contractor bargaining problem addressed here is in the context of a multi-mode resource constrained project scheduling problem with discounted cash flows, which is formulated as a progress payments model. In this model, the contractor receives payments from the client at predetermined regular time intervals. The last payment is paid at the first predetermined payment point right after project completion. The second payment model considered in this paper is the one with payments at activity completions. The project is represented on an Activity-on-Node (AON) project network. Activity durations are assumed to be deterministic. The project duration is bounded from above by a deadline imposed by the client, which constitutes a hard constraint. The bargaining objective is to maximize the bargaining objective function comprised of the objectives of both the client and the contractor. The bargaining objective function is expected to reflect the two-party nature of the problem environment and seeks a compromise between the client and the contractor. The bargaining power concept is introduced into the problem by the bargaining Power Weights used in the bargaining objective function. Simulated annealing algorithm and genetic algorithm approaches are proposed as solution procedures. The proposed solution methods are tested with respect to Solution quality and solution times. Sensitivity analyses are conducted among different parameters used in the model, namely the profit margin. the discount rate, and the bargaining power weights. (C) 2009 Wiley Periodicals, Inc. Naval Research Logistics 56: 93-112, 2009
Açıklama
WOS: 000263533500001
Anahtar Kelimeler
project scheduling, heuristics, bargaining, net present value, resource constraints
Kaynak
Naval Research Logistics
WoS Q Değeri
Q3
Scopus Q Değeri
Q1
Cilt
56
Sayı
2
