Optimizing the development schedule of resort projects by integrating simulation and genetic algorithm

Ren-Jye Dzeng*, Hsin Yun Lee

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

24 Scopus citations

Abstract

The development of most resort projects requires a continuous and larger investment of resources compared to conventional real estate projects. This research prioritizes the value that each amenity can bring to the project, and develops their development schedule accordingly, based on net present values. Our proposed model searches the optimal development schedule by integrating simulation and a polyploidy genetic algorithm (GA). The resulting schedule will help investors achieve increased profits, as well as maintain the cash flow within a secure level.

Original languageEnglish
Pages (from-to)506-516
Number of pages11
JournalInternational Journal of Project Management
Volume25
Issue number5
DOIs
StatePublished - 1 Jul 2007

Keywords

  • Development plan
  • Resort
  • Simulation
  • Time
  • Value and benefit

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