A Heuristic Algorithm for Resource Constrained Project Scheduling Problem with Discounted Cash Flows

Abstract- Project management is a complex decision making process involving the unrelenting pressures of time and cost. A project management problem typically consists of planning and scheduling decisions. The planning decision is essentially a strategic process wherein planning for requirements of several resource types in every time period of the planning horizon is carried out. Scheduling involves the allocation of the given resources to projects to determine the start and completion times of the detailed activities. Extensive research works have been carried out in Resource constrained project scheduling problems (RCPSP) and its variants. This paper mainly focuses on a resource constrained project scheduling problem with discounted cash flows (RCPSPDCF) as its variant. The study aims at providing fast heuristic solution for RCPSPDCF by utilizing the features of Particle Swarm Optimization (PSO)