Genetic algorithm solution for a risk-based partner selection problem in a virtual enterprise

Ip, W. H.; Huang, Min; Yung, Kai Leung; Wang, Dingwei

doi:10.1016/s0305-0548(01)00092-2

Cited by 180 publications

(72 citation statements)

References 12 publications

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“…The risk level curve of enterprise E 4 is nearly a horizontal line, which shows E 4 take well precautions against s 11 . According to the risk level curve of enterprise E 2 , a rising line indicates that E 2 has a better risk prevention effect for s 11 .…”

Section: Sensitivity Analysismentioning

confidence: 99%

Interval-valued Analytic Network Process and its Application in Risk Assessment of Dynamic Alliance

Xiao-guang¹,

Zhou²,

Cui³

2015

IJUNESST

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Section: Sensitivity Analysismentioning

confidence: 99%

Interval-valued Analytic Network Process and its Application in Risk Assessment of Dynamic Alliance

Xiao-guang¹,

Zhou²,

Cui³

2015

IJUNESST

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“…Various contractive decisions are developed to provide a more scientific and effective way for managing the risk of VE [19][20][21]. Unfortunately, there are few researchers going deep into these problems of contract design, especially the profit sharing contract considering risk preference in VE, though VE arrests a lot of attention.…”

Section: Related Literaturementioning

confidence: 99%

Mechanism Design of Fashion Virtual Enterprise under Monitoring Strategy

Huang

Chen

Cheng

et al. 2014

Mathematical Problems in Engineering

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Designing a revenue sharing contract to prevent the moral hazard is one of the most important issues in virtual enterprise (VE). As the partners' productive effort level cannot be observed by the owner and other partners, there is usually moral hazard problem in VE. To mitigate the moral hazard, the owner sets the monitoring effort with monitoring cost. Considering a risk-neutral owner and multiple downside risk-averse partners, the owner's problem of determining the monitoring effort and incentive intensity to maximize his profit while the partners determine their productive effort to maximize their profit is addressed. The principal agent based model of this problem is proposed. By solving the model, the optimal strategy of owner and partner is derived. By comparing with the no monitoring scenario, we find that implementing suitable monitoring strategy can reduce the moral hazard effectively. Finally, by analyzing the partners' risk attitude, the result reveals that the lower the risk level of the partner is, the more the owner wants. These results suggest that VE should not only focus on the risk attitude but also on monitoring.

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“…Ip et al (2003) studied the optimization model for minimizing risk in partner selection while ensuring the due date of a project for a VE. By exploring the characteristics of the problem considered and the knowledge of project scheduling, a Rule-based Genetic Algorithm (R-GA) with embedded project scheduling was developed to solve the problem.…”

Section: Literature Reviewmentioning

confidence: 99%

GA–SA/CPM/Markov based dynamic risk-management planning for virtual enterprises

et al. 2014

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A virtual enterprise (VE) is always in an environment with unpredictable change and dynamic markets. Therefore, a VE is more susceptible to risks. Minimizing risk in the operation of a project and ensuring success are major issues to concern in VEs. This paper develops a novel three-level dynamic risk-management planning model for VEs focusing on project organization mode and dynamic features of risk with the objective to maximize the completion probability under the constraints of cost, due date, and quality. The first level adopts non-linear integer programming techniques, the second level is about risk evaluation for the whole project based on network analysis, and the third level is on a Markov process based single process risk evaluation. An algorithm of integrated genetic algorithm plus simulated annealing/critical path method/Markov (GA-SA/CPM/Markov) is then designed to solve the problem and

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Genetic algorithm solution for a risk-based partner selection problem in a virtual enterprise

Cited by 180 publications

References 12 publications

Interval-valued Analytic Network Process and its Application in Risk Assessment of Dynamic Alliance

Interval-valued Analytic Network Process and its Application in Risk Assessment of Dynamic Alliance

Mechanism Design of Fashion Virtual Enterprise under Monitoring Strategy

GA–SA/CPM/Markov based dynamic risk-management planning for virtual enterprises

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