Simulation-based approach for Multiproject Scheduling based on composite priority rules

Pablo Alvarez-Campana, Felix Villafanez, Fernando Acebes and David Poza

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Abstract: This paper presents a simulation approach to enhance the performance of heuristics for multi-project scheduling. Unlike other heuristics available in the literature that use only one priority criterion for resource allocation, this paper proposes a structured way to sequentially apply more than one priority criterion for this purpose. By means of simulation, different feasible schedules are obtained to, therefore, increase the probability of finding the schedule with the shortest duration. The performance of this simulation approach was validated with the MPSPLib library, one of the most prominent libraries for resource-constrained multi-project scheduling. These results highlight the proposed method as a useful option for addressing limited time and resources in portfolio management.

Date: 2024-06
New Economics Papers: this item is included in nep-cmp and nep-ppm
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Published in International Journal of Simulation Modelling (IJSIMM) 23 (1) 2024

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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2406.02102

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