Heuristic, optimal, static, and dynamic schedules when processing times are uncertain

Article Abstract:

The effect of various levels of processing time uncertainly on the performance of optimal, near-optimal and heuristic scheduling policies in job-shop environment were studied. Recently development optimizing algorithms and several heuristics were used to evaluate 53 standard job-varying degrees. Results show that fixed optimal sequences derived from deterministic assumptions quickly deteriorate with the introduction of processing time uncertainly when compared with dynamically updated heuristic schedules. Simple dispatch heuristics performed equal or superior to that of algorithmically more sophisticated scheduling policies as processing time uncertainly increases.

Author: Sewell, Edward C., Lawrence, Stephen R.
Publisher: American Production and Inventory Control Society Inc.
Publication Name: Journal of Operations Management
Subject: Business, general
ISSN: 0272-6963
Year: 1997
Production Management, Research, Management, Scheduling (Management), Machine shops, Methodology, Research methods, Production control, Heuristic, Heuristics (Psychology)

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Simple Way to Determine Risk-Reward Ratios

Article Abstract:

A risk-reward ratio is used by investors to measure the risk of an investment against the rewards. There are several ways to figure a risk-reward ratio, but the most accurate seems to be to base the ratio on the past performance of the stock or commodity. The length of the time period to measure is based on the length of the investment. A short-term investment would only require looking back a few months, whereas a long-term investment would require about twelve months of historical performance.

Author: Mart, D.
Publisher: The National Underwriter Company
Publication Name: Futures: Magazine of Commodities & Options
Subject: Business, general
ISSN:
Year: 1984
Analysis, Risk (Economics)

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