NSGA_II to Solve Multi-Objective Project Selection Problem with Net Present Value Optimization

چکیده مقاله

In this paper, a mixed integer non-linear programming model is presented for project selection problem. This model is formulated as a bi-objective problem which focused on the tradeoffs between maximization of the total benefit derived from the implemented projects and maximization of net present value (NPV) of investment on selected projects. Due to the complexity of the considered problem, nondominated sorting genetic algorithm (NSGA-II) is adopted to solve the model. To demonstrate the efficiency and reliability of problem specified solution algorithm, NSGA-II algorithm results are compared with two well-known multi-objective genetic algorithms in the literature, i.e. SPEA-II and VEGA based on some comparison metrics. Computational experiments indicate that NSGA-II outperforms these two genetic algorithms

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