Stochastic Project Scheduling under Cash Flow Uncertainty


GÜL S., Kutlağ B., Kalkan N.

Yükseköğretim Kurumları Destekli Proje, Üniversite Destekli Diğer Projeler, 2020 - 2020

  • Proje Türü: Yükseköğretim Kurumları Destekli Proje
  • Destek Programı: Üniversite Destekli Diğer Projeler
  • Başlama Tarihi: Ocak 2020
  • Bitiş Tarihi: Aralık 2020

Proje Özeti

"Project scheduling studies usually ignores random factors that would affect the implementation and profitability of the project. Some stochastic project scheduling studies address uncertainty by modeling the uncertainty in activity durations. However, projects are affected by other uncertain factors, such as disruptions in resource usages/availabilities or delays in cash flows. In this project, we investigate the uncertainties associated with delays in client payments and model the effects of these in the net present value (NPV), which is a common criterion used to assess the financial feasibility of the projects. Our study will be the first one that considers this type of uncertainty in the project scheduling literature. We formulated our project scheduling problem as a two-stage stochastic mixed integer program. The activity start times are the main decision variables in the model. The actual client payment times are represented as second-stage decision variables. The objective function maximizes the expected NPV. We are planning to solve the resulting formulation using a sample average approximation algorithm.We will conduct computational experiments to illustrate the impact of uncertain delay in client payments into the activity start times. We will assess the value of stochastic solution. Finally, we will examine the effect of the deadline constraint on the net present value and optimal activity start times."