A Comparison of Heuristics for Scheduling Projects with Cash Flows and Resource Restrictions

Robert A. Russell
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Robert A. Russell: College of Business Administration, The University of Tulsa, Tulsa, Oklahoma 74104

Management Science, 1986, vol. 32, issue 10, 1291-1300

Abstract: The problem addressed in this paper is the scheduling of activities in a project to maximize net present value given cash inflows, outflows, and resource restrictions. Although optimization procedures exist for small problems of this type, they generally cannot solve large-scale problems and may not be widely available. Six heuristic scheduling rules are compared on 80 test problems. The test problems include large-scale engineering construction projects as well as 50 resource constrained problems from the literature.

Keywords: project management: resource constraints; finance: capital rationing; industries: construction (search for similar items in EconPapers)
Date: 1986
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