A Heuristic Algorithm for Resource Constrained Project Scheduling Problem with Discounted Cash Flows
Ritwik.A1, Ginu Paul2
1Ritwik A, Department of Mechanical Engineering, Toc H Institute of Science & Technology, Arakunnam, Ernakulam (Kerala), India.
2Ginu Paul, Department of Mechanical Engineering, Toc H Institute of Science & Technology, Arakunnam, Ernakulam (Kerala), India.
Manuscript received on 10 September 2013 | Revised Manuscript received on 19 September 2013 | Manuscript Published on 30 September 2013 | PP: 99-102 | Volume-3 Issue-4, September 2013 | Retrieval Number: D1201093413/13©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
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).
Keywords: Project Management, Scheduling, RCPSP, RCPSPDCF, PSO.
Scope of the Article: Petroleum and Mineral Resources Engineering