Please wait a minute...
FITEE
Front. Inform. Technol. Electron. Eng.  2010, Vol. 11 Issue (7): 562-574    DOI: 10.1631/jzus.C0910479
    
Combinatorial auction algorithm for project portfolio selection and scheduling to maximize the net present value
Yong-yi Shou*,1, Yi-lun Huang2
1 Department of Management Science & Engineering, Zhejiang University, Hangzhou 310058, China 2 Department of Instrument Science & Engineering, Zhejiang University, Hangzhou 310027, China
Combinatorial auction algorithm for project portfolio selection and scheduling to maximize the net present value
Yong-yi Shou*,1, Yi-lun Huang2
1 Department of Management Science & Engineering, Zhejiang University, Hangzhou 310058, China 2 Department of Instrument Science & Engineering, Zhejiang University, Hangzhou 310027, China
 全文: PDF 
摘要： Scheduling projects at the activity level increases the complexity of decision making of project portfolio selection but also expands the search space to include better project portfolios. An integer programming model is formulated for the project portfolio selection and scheduling problem. An iterative multi-unit combinatorial auction algorithm is proposed to select and schedule project portfolios through a distributed bidding mechanism. Two price update schemes are designed to adopt either a standard or an adaptive Walrasian tatonnement process. Computational tests show that the proposed auction algorithm with the adaptive price update scheme selects and schedules project portfolios effectively and maximizes the total net present value. The price profile generated by the algorithm also provides managerial insights for project managers and helps to manage the scarce resources efficiently.
关键词： Project management;  Portfolio selection;  Combinatorial auction;  Project scheduling    
Abstract: Scheduling projects at the activity level increases the complexity of decision making of project portfolio selection but also expands the search space to include better project portfolios. An integer programming model is formulated for the project portfolio selection and scheduling problem. An iterative multi-unit combinatorial auction algorithm is proposed to select and schedule project portfolios through a distributed bidding mechanism. Two price update schemes are designed to adopt either a standard or an adaptive Walrasian tatonnement process. Computational tests show that the proposed auction algorithm with the adaptive price update scheme selects and schedules project portfolios effectively and maximizes the total net present value. The price profile generated by the algorithm also provides managerial insights for project managers and helps to manage the scarce resources efficiently.
Key words: Project management    Portfolio selection    Combinatorial auction    Project scheduling
收稿日期: 2009-08-05 出版日期: 2010-07-06
CLC:  TP39  
通讯作者: Yong-yi SHOU     E-mail: yshou@zju.edu.cn
服务　　
把本文推荐给朋友
加入引用管理器
E-mail Alert
RSS
作者相关文章　　
Yong-yi Shou
Yi-lun Huang

引用本文:

Yong-yi Shou, Yi-lun Huang. Combinatorial auction algorithm for project portfolio selection and scheduling to maximize the net present value. Front. Inform. Technol. Electron. Eng., 2010, 11(7): 562-574.

链接本文:

http://www.zjujournals.com/xueshu/fitee/CN/10.1631/jzus.C0910479    或    http://www.zjujournals.com/xueshu/fitee/CN/Y2010/V11/I7/562

[1] Angela H. L. Chen, Chiuh-Cheng Chyu. Economic optimization of resource-constrained project scheduling: a two-phase metaheuristic approach[J]. Front. Inform. Technol. Electron. Eng., 2010, 11(6): 481-494.