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1.0 Context of Research 7
1.1 Relevance of Research 8
1.2 Aims and Objectives 8
1.3 Chapter Outline 8
2. LITERATURE REVIEW 10
2.0 Introduction 10
2.1 Background of Project networks and Network planning 10
2.2 An Overview of Time Value of Money 13
2.2.1 Causes of Time Value of Money 14
2.2.2  The Importance of Time Value of Money 15
2.3 An overview Net Present Value Method 15
2.4 Three Sub problems of maximum net present value 16
2.5  Construction Schedule 19
2.5.1 Make a Construction Schedule 19
2.5.2 The Basic Form of the Construction Schedule 20
2.6Method of Network Planning 21
2.6.1 The Concept of Network Diagram 21
2.6.2 Network Diagram and the Time Parameter 22
2.6.3 The key Lines, key Activities and Non-Critical Activities 23
2.7 An Overview of Project Network Planning Technical 24
2.7.1 The Problems of Fixed Duration and Resource Balance 24
2.7.2 The Problems of Limited Resources and the Shortest Duration 26
2.7.3 The Exchange Problem between Project Date and Project Cost 27
2.7.4 The Problem of Max-NPV 29
2.8 Deficiency of the Existing Research 30
3. METHODOLOGY 32
3.0 Introduction 32
3.1 Research Philosophy 32
3.1.1 Positivism or Interpretivism 33
3.2 Research Approach 34
3.2.1 Deductive or Inductive 34
3.3 Research Strategy 35
3.3.1 Qualitative and quantitative 36
3.3.2 Case Study 37
3.3.3 Data collection 38
3.4 Data Information 38
3.4.1 Area Choice 38
3.4.2 Project Choice 39
3.5 Research plan and data analysis 39
3.6 Problems and limitation 41
4. Findings 42
4.0 Introduction 42
4.1 project data 42
4.2 Particle Swarm Optimization 45
4.2.1 The discrete particle swarm algorithm 46
4.2.2 Compared with other algorithms 46
4.3 Encoding design of Variable 47
4.3.1 Decision variable 47
4.3.2 The complexity of the variables 48
4.3.3 Priority of activities’ scheduling 48
4.4 Algorithm basic step 49
4.5 The flow chart 49
4.4 Results contrast and analysis 50
4.4.1 illustration of calculation results 50
4.4.2 Several conclusions from the results 51
4.4.3 Comparison 52
4.5 Summary of analysis 53
5 Discussion 53
6 Conclusions and further research 54
6.1 Conclusions 54
6.2 further research 55
Reference 55

1. Introduction
1.0 Context of Research 
Pursuit of profit maximization is the ultimate aim of all economic entity. Construction unit as an independent economic entity, it also wants to pursue the maximization of profit. Net present value is often acted as a measure of incomes of a project. In recent years, Net present value maximization problem is an important part of research fields in project management. This article will cater to the trend and introduce net present value maximization emphatically.

1.1 Relevance of Research
Early in the 20th century 70's A.H.Russell began to study the Net present value maximization. After 30 years of research and development, Net present value maximization can be divided into three types of questions：
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