Title: A multi-objective scheduling payment pattern for project cash flow by considering resource constraints (a case study in power transfer system)

Authors: Yaser Vahedi Geshniani; Reza Kamranrad; Iman Emami

Addresses: Department of Industrial Engineering, Islamic Azad University, Central Tehran Branch, Tehran, Iran ' Department of Industrial Engineering, Semnan University, Semnan, Iran ' Tabdil Energy Paya Company, Tehran, Iran

Abstract: Financial aspects in project scheduling are specified by incoming and outgoing cash flows associated with events of the projects. As in the real world the project stakeholders are looking for benefit, here we have maximised project net value which is obtained from cost fraction of income. In fact, taking into account the objective function is it attempted that problem under study be closer to real-world issues. In this study, a mathematical model to maximise contractor net present value on the basis of payment pattern and consideration of resource constraint are presented. Since this issue is considered as NP-hard problems, to solve this, meta-heuristic multi-objective algorithms including NSGA-II, MOPSO and MOSA have been used. Finally payment patterns and an appropriate model are proposed to reduce the completion time and maximise the net present value of the project.

Keywords: project scheduling; payment patterns; meta-heuristic algorithms; comparison of payment patterns.

DOI: 10.1504/IJISE.2020.107773

International Journal of Industrial and Systems Engineering, 2020 Vol.35 No.3, pp.299 - 313

Received: 11 Aug 2018
Accepted: 05 Nov 2018
Published online: 17 Jun 2020 *

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