A general form for the capital projects sequencing problem

The capital sequencing problem consists of finding the lowest cost starting times for a set of capital projects when such projects: 1) are exposed to the effects of inflation, 2) cost different amounts, 3) require different lengths of time to complete, and 4) have dissimilar cash outflows per period. The problem is non-trivial when the timing of the projects is constrained by any one, or any combination of, twelve possibilities. The problem is modeled as a straightforward mathematical zero-one programming problem, and is complicated only by the large number of constraints which are typically needed for a problem of realistic size. (C) 1997 Elsevier Science Ltd.