Optimization of Time, Cost and Quality in Critical Chain Method Using Simulated Annealing

In the last decade, theory of constraint application in project management has led to make a new approach for project scheduling and control as a critical chain. In this paper, a multi-objective optimization model for multi-project scheduling on critical chain is investigated. The objectives include time, cost and quality. In order to solve the problem, a Simulated Annealing algorithm is developed and then analyzed to investigate the effect of each objective.. The number of activities in each project is not considered the same. Time, cost and quality values are calculated by solving the proposed algorithm and then the total utility amount is obtained. Sensitivity analysis is performed based on various values of each objective weight. Then, the effect of objectives weight variation is investigated on utility function. In addition, the results show that the proposed algorithm is able to solve problem optimally in large scale.