Client-Contractor Bargaining on Net Present Value in Project Scheduling with Limited Resources

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dc.contributor.authorKavlak, Nursel
dc.contributor.authorUlusoy, Gündüz
dc.contributor.authorŞerifoğlu, Funda Sivrikaya
dc.contributor.authorBirbil, S. İlker
dc.date.accessioned2020-04-30T22:40:50Z
dc.date.available2020-04-30T22:40:50Z
dc.date.issued2009
dc.departmentDÜ, Mühendislik Fakültesien_US
dc.descriptionWOS: 000263533500001en_US
dc.description.abstractThe 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, 2009en_US
dc.identifier.doi10.1002/nav.20331en_US
dc.identifier.endpage112en_US
dc.identifier.issn0894-069X
dc.identifier.issn1520-6750
dc.identifier.issue2en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage93en_US
dc.identifier.urihttps://doi.org/10.1002/nav.20331
dc.identifier.urihttps://hdl.handle.net/20.500.12684/3068
dc.identifier.volume56en_US
dc.identifier.wosWOS:000263533500001en_US
dc.identifier.wosqualityQ3en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherWileyen_US
dc.relation.ispartofNaval Research Logisticsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectproject schedulingen_US
dc.subjectheuristicsen_US
dc.subjectbargainingen_US
dc.subjectnet present valueen_US
dc.subjectresource constraintsen_US
dc.titleClient-Contractor Bargaining on Net Present Value in Project Scheduling with Limited Resourcesen_US
dc.typeArticleen_US

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