Net Present Value Maximization of a Resource-Constrained Project Scheduling Problem with Delay Penalties

The Resource Constrained Project Scheduling Problem (RCPSP) is been studied under different kind of constraints and limitations. In this paper, we are going to consider the discounted cash flows for project activities, including delay penalties which occur when the project make span exceeds its deadline both together as the objective function of the RCPSP. To solve the model, we will take advantage of Genetic Algorithm and Imperialist Competitive Algorithm to achieve the optimal solution of the problem. The evaluation of the algorithms performance reveals that, in comparison with ICA, GA performs better, especially in large scale problems.