This paper analyzes the impacts of different pollution control policies on a firm's decisions of production planning and inventory control. Based on a stochastic model with both demand and environmental uncertainties, we derive the optimal policies of production planning and inventory control...

Although uncertainty is rife in many project management contexts, little is known about adaptively optimizing project schedules. We formulate the problem of adaptively optimizing the expected present value of a project's cash flow, and we show that it is practical to perform the optimization....