Drexl, Andreas; Kimms, Alf:

Optimization Guided Lower and Upper Bounds for the Resource Investment Problem.

In: Journal of the Operational Research Society, Jg. 52 (2001) ; Nr. 3, S. 340 - 351
ISSN: 0030-3623
Zeitschriftenaufsatz / Fach: Wirtschaftswissenschaften
Mercator School of Management - Fakultät für Betriebswirtschaftslehre
Abstract:
The resource investment problem deals with the issue of providing resources to a project such that a given deadline can be met. The objective is to make the resources available in the cheapest possible way. For each resource, expenses depend on the maximum amount required during the course of the project. In this paper we develop two lower bounds for this NP-hard problem using Lagrangean relaxation and column generation techniques, respectively. Both procedures are capable of yielding feasible solutions as well. Hence, we also have two optimization guided heuristics. A computational study consisting of a set of 3210 instances compares both approaches and allows insight into the performance.