Title: A new model for optimising simultaneously projects selection and resource-constrained project scheduling problem

Authors: Maliheh Ganji; Mehdi Alinaghian; Seyed Mojtaba Sajadi

Addresses: Department of Industrial Engineering, Najafabad Branch, Islamic Azad University, Najafabad, Iran ' Department of System and Industrial Engineering, Isfahan University of Technology, 83111-84156, Esfahan, Iran ' Faculty of Entrepreneurship, University of Tehran, Farshi Moghadam, 16 St., North Kargar Ave., 1439813141, Tehran, Iran

Abstract: The problem of project selection and scheduling is in combination with a few maximum amount of resource constraints and the net present values of the project modelling, analysis and solving. In this study, it is found that the number of available project should be given. Decision makers should consider a subset of these projects, regarding to time and resources limitations. A majority of project selection models do not consider process scheduling too. However, except for the cases in which only one project is active at a certain time during the project, it is not optimal to prioritise the selected projects regardless of their timing. The complexity of scheduling the activities of the selected portfolio of projects is more than the selection itself. Nevertheless, the study investigates all the aspects of both selection and scheduling at the same time in order to build up a comprehensive model.

Keywords: net present value; NPV; project portfolio; project selection; resource constrained project scheduling problem; RCPSP; resource constraints; project modelling.

DOI: 10.1504/IJPQM.2016.080155

International Journal of Productivity and Quality Management, 2016 Vol.19 No.4, pp.511 - 525

Received: 10 Feb 2015
Accepted: 06 May 2015
Published online: 06 Nov 2016 *

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