PROJECT SELECTION, SCHEDULING AND RESOURCE ALLOCATION FOR ENGINEERING DESIGN GROUPS

Persistent Link:
http://hdl.handle.net/10150/195457
Title:
PROJECT SELECTION, SCHEDULING AND RESOURCE ALLOCATION FOR ENGINEERING DESIGN GROUPS
Author:
Chen, Jiaqiong
Issue Date:
2005
Publisher:
The University of Arizona.
Rights:
Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Abstract:
This dissertation examines a profit-maximizing project selection and scheduling problem. Assume that a set of potentially profitable projects are available, yet limited available resources may not allow all of them to be pursued. Profit profiles for projects are assumed to be non-increasing functions of project completion times, i.e. profit returns are sensitive to time-to-market. Decision needs to be made on which sub-set of projects should be chosen and how resources should be allocated to these projects such that the total profit is maximized.Formal mathematical models are formulated for various versions of the problem, including such ones incorporating a third team formation aspect. Structure of the problem is examined and insights are gained regarding prioritization of project, specifically. Although prioritization is sub-optimal in general, heuristic solution methods based on prioritization are pursued, since the scheduling sub-problem itself is NP-hard.A decomposition heuristic framework is first proposed to obtain good solutions using minimum computational time. Sets of test instances are generated using project network data from well-known source in the literature. Computational runs reveal that three priority rules achieve significantly better profits than the benchmarking random priority rule.Improving upon the prioritization based decomposition heuristic, an implicit enumeration is proposed. This algorithm does not examine all priority sequences, yet guarantees an optimal priority sequence when the computation is completed. Several fathoming rules are proposed to cut back computational time effectively. Comparison to the profits achieved by the best priority rule and the benchmarking random priority rule shows a significant improvement on profits, yet at a cost of reasonable added computation time.Future research areas include identifying general conditions under which prioritization of projects would lead us to an optimal solution. Developing better upper bounds for the implicit enumeration scheme is also of interest. The team formation aspect has yet to be treated computationally. It would also be of interest to consider how synergy deviation information may be fed back to the earlier stages of project selection and scheduling decision. Trade-off between profit and team synergy may also be considered in the future.
Type:
text; Electronic Dissertation
Keywords:
Resource Constrained Project Scheduling; Project Selection; Time Sensitive Returns; Time-to-Market; Resource Allocation; Portfolio Selection
Degree Name:
Ph.D.
Degree Level:
doctoral
Degree Program:
Systems & Industrial Engineering; Graduate College
Degree Grantor:
University of Arizona
Advisor:
Askin, Ronald G.
Committee Chair:
Askin, Ronald G.

Full metadata record

DC FieldValue Language
dc.language.isoenen_US
dc.titlePROJECT SELECTION, SCHEDULING AND RESOURCE ALLOCATION FOR ENGINEERING DESIGN GROUPSen_US
dc.creatorChen, Jiaqiongen_US
dc.contributor.authorChen, Jiaqiongen_US
dc.date.issued2005en_US
dc.publisherThe University of Arizona.en_US
dc.rightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.en_US
dc.description.abstractThis dissertation examines a profit-maximizing project selection and scheduling problem. Assume that a set of potentially profitable projects are available, yet limited available resources may not allow all of them to be pursued. Profit profiles for projects are assumed to be non-increasing functions of project completion times, i.e. profit returns are sensitive to time-to-market. Decision needs to be made on which sub-set of projects should be chosen and how resources should be allocated to these projects such that the total profit is maximized.Formal mathematical models are formulated for various versions of the problem, including such ones incorporating a third team formation aspect. Structure of the problem is examined and insights are gained regarding prioritization of project, specifically. Although prioritization is sub-optimal in general, heuristic solution methods based on prioritization are pursued, since the scheduling sub-problem itself is NP-hard.A decomposition heuristic framework is first proposed to obtain good solutions using minimum computational time. Sets of test instances are generated using project network data from well-known source in the literature. Computational runs reveal that three priority rules achieve significantly better profits than the benchmarking random priority rule.Improving upon the prioritization based decomposition heuristic, an implicit enumeration is proposed. This algorithm does not examine all priority sequences, yet guarantees an optimal priority sequence when the computation is completed. Several fathoming rules are proposed to cut back computational time effectively. Comparison to the profits achieved by the best priority rule and the benchmarking random priority rule shows a significant improvement on profits, yet at a cost of reasonable added computation time.Future research areas include identifying general conditions under which prioritization of projects would lead us to an optimal solution. Developing better upper bounds for the implicit enumeration scheme is also of interest. The team formation aspect has yet to be treated computationally. It would also be of interest to consider how synergy deviation information may be fed back to the earlier stages of project selection and scheduling decision. Trade-off between profit and team synergy may also be considered in the future.en_US
dc.typetexten_US
dc.typeElectronic Dissertationen_US
dc.subjectResource Constrained Project Schedulingen_US
dc.subjectProject Selectionen_US
dc.subjectTime Sensitive Returnsen_US
dc.subjectTime-to-Marketen_US
dc.subjectResource Allocationen_US
dc.subjectPortfolio Selectionen_US
thesis.degree.namePh.D.en_US
thesis.degree.leveldoctoralen_US
thesis.degree.disciplineSystems & Industrial Engineeringen_US
thesis.degree.disciplineGraduate Collegeen_US
thesis.degree.grantorUniversity of Arizonaen_US
dc.contributor.advisorAskin, Ronald G.en_US
dc.contributor.chairAskin, Ronald G.en_US
dc.contributor.committeememberAskin, Ronald G.en_US
dc.contributor.committeememberSmith, J. Coleen_US
dc.contributor.committeememberSon, Young-Junen_US
dc.contributor.committeememberRyan, William E.en_US
dc.identifier.proquest1157en_US
dc.identifier.oclc659747437en_US
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