In this paper, the Resource Constrained Project Scheduling Problem with Discounted Cash Flows (RCPSPDC) is considered. This problem involves scheduling the project activities with cash inflows and outflows, in such a way the net present value of the cash flows is maximized subject to resource and precedence constraints. A tabu search procedure was proposed (TABU-S) as a heuristic solution technique for this problem. The procedure was, then, modified to invoke a long term memory function (TABU-L). Both procedures were tested on 50 problems derived from Patterson's data set. Solutions produced by these procedures were compared to upper bounds obtained from a Linear Programming Relaxation of RCPSPDC which is strengthened by valid cuts. Furthermore, a comparison of these solutions to solutions obtained by Minimum Slack Heuristic was provided. In general, Tabu Search successfully produced near-optimal solutions with reasonable computational effort.
All Science Journal Classification (ASJC) codes
- Computer Science(all)
- Modeling and Simulation
- Management Science and Operations Research