Article1986

A Comparison of Heuristics for Scheduling Projects with Cash Flows and Resource Restrictions

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Resource-Constrained Project Scheduling Scheduling and Optimization Algorithms Optimization and Mathematical Programming

Abstract

The problem addressed in this paper is the scheduling of activities in a project to maximize net present value given cash inflows, outflows, and resource restrictions. Although optimization procedures exist for small problems of this type, they generally cannot solve large-scale problems and may not be widely available. Six heuristic scheduling rules are compared on 80 test problems. The test problems include large-scale engineering construction projects as well as 50 resource constrained problems from the literature.

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References

1975A Comparison of Heuristic and Optimum Solutions in Resource-Constrained Project Scheduling 1984A Comparison of Exact Approaches for Solving the Multiple Constrained Resource, Project Scheduling Problem 1982Multi-Project Scheduling: Categorization of Heuristic Rules Performance 1970Cash Flows in Networks 1977Scheduling a Project to Maximize Its Present Value: A Zero-One Programming Approach 1976Project scheduling: The effects of problem structure on heuristic performance

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2000Using metaheuristics in multiobjective resource constrained project scheduling 1990The scheduling of activities to maximize the net present value of projects 1998Analysis of the characteristics of projects in diverse industries 1996A Branch and Bound Procedure for the Resource Constrained Project Scheduling Problem with Discounted Cash Flows 2005Setup Time Reduction for Electronics Assembly: Combining Simple (SMED) and IT‐Based Methods 2018A tabu search procedure for the resource-constrained project scheduling problem with alternative subgraphs 2001

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