A GENERAL-FORM FOR THE CAPITAL PROJECTS SEQUENCING PROBLEM

The capital sequencing problem consists of finding the lowest cost sta rting times for a set of capital projects when such projects: 1) are e xposed to the effects of inflation, 2) cost different amounts, 3) requ ire different lengths of time to complete, and 4) have dissimilar cash outflows per period. The problem is non-trivial when the timing of th e projects is constrained by any one, or any combination of, twelve po ssibilities. The problem is modeled as a straightforward mathematical zero-one programming problem, and is complicated only by the large num ber of constraints which are typically needed for a problem of realist ic size. (C) 1997 Elsevier Science Ltd.