A Sample-path Optimization Approach for Optimal Resource Allocation in Stochastic Projects

A Sample-path Optimization Approach for Optimal Resource Allocation in Stochastic Projects
Author:
Publisher:
Total Pages:
Release: 2003
Genre:
ISBN:

The purpose of this research has been to develop an optimization method that can be utilized to determine optimal resource allocations for projects in an uncertain (stochastic) environment. The project under consideration is modeled as a stochastic activity network (SAN) where the workload requirements for each activity are assumed to be random with some specified distribution. Our concern is the time/cost tradeoff problem where the project manager can affect the duration of each activity in the project by allocating more or less of a scarce resource to the competing activities (at some cost). The objective is therefore to minimize the total expected cost of the project by assigning the resource to the various activities while simultaneously respecting precedence relationships among the activities and constraints on the total resource available. In particular we would like to analyze stochastic projects of reasonable size (>100 activities) and provide an optimization tool that achieves results in sufficiently small amount of time to make its application practical for realistic project management scenarios.

Proactive-reactive, robust scheduling and capacity planning of deconstruction projects under uncertainty

Proactive-reactive, robust scheduling and capacity planning of deconstruction projects under uncertainty
Author: Volk, Rebekka
Publisher: KIT Scientific Publishing
Total Pages: 524
Release: 2017-02-08
Genre: Business
ISBN: 3731505924

A project planning and decision support model is developed and applied to identify and reduce risk and uncertainty in deconstruction project planning. It allows calculating building inventories based on sensor information and construction standards and it computes robust project plans for different scenarios with multiple modes, constrained renewable resources and locations. A reactive and flexible planning element is proposed in the case of schedule infeasibility during project execution.

Resource Allocation for Contingency Planning

Resource Allocation for Contingency Planning
Author: Ricardo Collado
Publisher:
Total Pages: 29
Release: 2017
Genre:
ISBN:

Resource contingency planning aims to mitigate the effects of unexpected disruptions in supply chains. While these failures occur infrequently, they often have disastrous consequences. This paper formulates the resource allocation problem in contingency planning as a two-stage stochastic optimization problem with a risk-averse recourse function. Furthermore, the paper proposes a novel computationally tractable solution approach. The proposed algorithm relies on an inexact bundle method with subgradient approximations through a scenario reduction mechanism. We prove that our scenario reduction and function approximations satisfy the requirements of the oracle in the inexact bundle method, ensuring convergence to an optimal solution. The practical performance of the developed inexact bundle method under risk aversion is investigated for our resource allocation problem. We create a library of test problems and obtain their optimal values by applying the exact bundle method. The computed solutions from the developed inexact bundle method are compared against these optimal values, under different risk measures. Our analysis indicates that our inexact bundle method significantly reduces the computational time of solving the resource allocation problem in comparison to the exact bundle method, and is capable of achieving a high percentage of optimality within a much shorter time.

Optimization for Stochastic, Partially Observed Systems Using a Sampling-based Approach to Learn Switched Policies

Optimization for Stochastic, Partially Observed Systems Using a Sampling-based Approach to Learn Switched Policies
Author: Salvatore J. Candido
Publisher:
Total Pages:
Release: 2011
Genre:
ISBN:

We propose a new method for learning policies for large, partially observable Markov decision processes (POMDPs) that require long time horizons for planning. Computing optimal policies for POMDPs is an intractable problem and, in practice, dimensionality renders exact solutions essentially unreachable for even small real-world systems of interest. For this reason, we restrict the policies we learn to the class of switched belief-feedback policies in a manner that allows us to introduce domain expert knowledge into the planning process. This approach has worked well for the systems on which we have tested our approach, and we conjecture that it will be useful for many real-world systems of interest. Our approach is based on a method like value iteration to learn a switching law. Because the POMDP problem is intractable, we use a Monte Carlo approximation to evaluate system behavior and optimize a switching law based on sampling. We explicitly analyze the sensitivity of expected cost (performance) with respect to perturbations introduced by our approximations, and use that analysis to avoid approximation errors that are potentially disastrous when using the computed policy. We demonstrate results on discrete POMDP problems from the literature and a resource allocation problem modeled after a team of robots attempting to extinguish a forest fire. We then utilize our approach to build two algorithms that solve the minimum uncertainty robot navigation problem. We demonstrate that our approach can improve on techniques in the literature in terms of solution quality by demonstrating our results in simulation. Our second approach utilizes information-theoretic heuristics to drive the sampling-based learning procedure. We conjecture that this is a useful direction towards an efficient, general stochastic motion planning algorithm.

Optimization of Temporal Networks under Uncertainty

Optimization of Temporal Networks under Uncertainty
Author: Wolfram Wiesemann
Publisher: Springer Science & Business Media
Total Pages: 168
Release: 2012-01-05
Genre: Business & Economics
ISBN: 3642234267

Many decision problems in Operations Research are defined on temporal networks, that is, workflows of time-consuming tasks whose processing order is constrained by precedence relations. For example, temporal networks are used to model projects, computer applications, digital circuits and production processes. Optimization problems arise in temporal networks when a decision maker wishes to determine a temporal arrangement of the tasks and/or a resource assignment that optimizes some network characteristic (e.g. the time required to complete all tasks). The parameters of these optimization problems (e.g. the task durations) are typically unknown at the time the decision problem arises. This monograph investigates solution techniques for optimization problems in temporal networks that explicitly account for this parameter uncertainty. We study several formulations, each of which requires different information about the uncertain problem parameters.