A Scenario-Based Project Valuation for a Multi- Project Resource-Constrained Scheduling Problem

Nowadays simultaneous management of multiple projects is the biggest challenge of project oriented companies. The difficulties become larger when the available resources of the company should be allocated to the projects under limitation. Moreover, each activity has more than one mode, namely scenario, with a predefined positive cash flow to be performed. The problem is selection of the best scenario and determination of the best resource allocation of which the total net present value of all projects be maximized. Furthermore, the activities are scheduled so that the resource constraints be satisfied. This paper models the new problem and applies a Tabu Search (TS) algorithm to deal with the problem. The numerical experiments validate the behavior of the proposed TS in solving the problem.