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Multi-mode schedule optimisation for incentivised projects

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Abstract
This research presents a novel quantitative methodology to optimise the scheduling of subcontracted projects from the perspective of the contractor. Specifically, the scenario where the contractor's remuneration is performance dependent is investigated. Based on the incentive methodology introduced by Kerkhove and Vanhoucke (2016), a novel mixed integer programming formulation as well as a greedy local search heuristic to solve the contractor's problem are presented and tested in a computational experiment. For this experiment, a database containing 3,150 contract-project combinations with diverse structures has been created. The results from this experiment demonstrate the efficiency of the MIP formulation even for larger problem instances, as well as the influence of the project and contract structure on the contractor's earnings.
Keywords
Project scheduling, Decision support systems, Contracting, TARGET COST CONTRACTS, INCENTIVE/DISINCENTIVE CONTRACTS, DISCRETE-TIME, CONSTRUCTION, TRADEOFF, MODEL, RISK, PERFORMANCE, MECHANISMS, ALLOCATION

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MLA
Kerkhove, Louis-Philippe, and Mario Vanhoucke. “Multi-Mode Schedule Optimisation for Incentivised Projects.” COMPUTERS & INDUSTRIAL ENGINEERING, vol. 142, 2020, doi:10.1016/j.cie.2020.106321.
APA
Kerkhove, L.-P., & Vanhoucke, M. (2020). Multi-mode schedule optimisation for incentivised projects. COMPUTERS & INDUSTRIAL ENGINEERING, 142. https://doi.org/10.1016/j.cie.2020.106321
Chicago author-date
Kerkhove, Louis-Philippe, and Mario Vanhoucke. 2020. “Multi-Mode Schedule Optimisation for Incentivised Projects.” COMPUTERS & INDUSTRIAL ENGINEERING 142. https://doi.org/10.1016/j.cie.2020.106321.
Chicago author-date (all authors)
Kerkhove, Louis-Philippe, and Mario Vanhoucke. 2020. “Multi-Mode Schedule Optimisation for Incentivised Projects.” COMPUTERS & INDUSTRIAL ENGINEERING 142. doi:10.1016/j.cie.2020.106321.
Vancouver
1.
Kerkhove L-P, Vanhoucke M. Multi-mode schedule optimisation for incentivised projects. COMPUTERS & INDUSTRIAL ENGINEERING. 2020;142.
IEEE
[1]
L.-P. Kerkhove and M. Vanhoucke, “Multi-mode schedule optimisation for incentivised projects,” COMPUTERS & INDUSTRIAL ENGINEERING, vol. 142, 2020.
@article{8689829,
  abstract     = {{This research presents a novel quantitative methodology to optimise the scheduling of subcontracted projects from the perspective of the contractor. Specifically, the scenario where the contractor's remuneration is performance dependent is investigated. Based on the incentive methodology introduced by Kerkhove and Vanhoucke (2016), a novel mixed integer programming formulation as well as a greedy local search heuristic to solve the contractor's problem are presented and tested in a computational experiment. For this experiment, a database containing 3,150 contract-project combinations with diverse structures has been created. The results from this experiment demonstrate the efficiency of the MIP formulation even for larger problem instances, as well as the influence of the project and contract structure on the contractor's earnings.}},
  articleno    = {{106321}},
  author       = {{Kerkhove, Louis-Philippe and Vanhoucke, Mario}},
  issn         = {{0360-8352}},
  journal      = {{COMPUTERS & INDUSTRIAL ENGINEERING}},
  keywords     = {{Project scheduling,Decision support systems,Contracting,TARGET COST CONTRACTS,INCENTIVE/DISINCENTIVE CONTRACTS,DISCRETE-TIME,CONSTRUCTION,TRADEOFF,MODEL,RISK,PERFORMANCE,MECHANISMS,ALLOCATION}},
  language     = {{eng}},
  pages        = {{19}},
  title        = {{Multi-mode schedule optimisation for incentivised projects}},
  url          = {{http://dx.doi.org/10.1016/j.cie.2020.106321}},
  volume       = {{142}},
  year         = {{2020}},
}

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