Project Portfolio Selection with Scheduling: An Evolutionary Approach

  • Daniel A. Martínez-Vega Tecnológico Nacional de México / Instituto Tecnológico de Ciudad Madero
  • Laura Cruz-Reyes Instituto Tecnológico de Ciudad Madero
  • Nelson Rangel-Valdez Professor of CONACyT, Division of Postgraduate Studies and Research, Tecnológico Nacional de México, Instituto Tecnológico de Ciudad Madero
  • Claudia Gómez Santillán Tecnológico Nacional de México / Instituto Tecnológico de Ciudad Madero
  • Patricia Sánchez-Solís Tecnológico Nacional de México / Instituto Tecnológico de Ciudad Madero
  • Mercedes Pérez Villafuerte Tecnológico Nacional de México / Instituto Tecnológico de Ciudad Madero

Abstract

This paper addresses the project portfolio selection problem enriched with scheduling. The factors considered for project scheduling are: the planning time horizon and the negative impact of the project completion time on the total profit. The objective is to select a subset of projects which maximizes the discounted total gain by late completion time, respecting resource constraints and without exceeding the time horizon. A mixed integer linear programming model was formulated and compared to two recent models addressing the same problem. To show the potential of the model on the large scale we used a metaheuristic based on the genetic algorithm Non-dominated Sorting Genetic Algorithm II. We show experimentally the benefits of our proposal and leave open the possibility of its study applied on a larger scale in future works.

Published
2018-08-10
How to Cite
Martínez-Vega, D. A., Cruz-Reyes, L., Rangel-Valdez, N., Gómez Santillán, C., Sánchez-Solís, P., & Pérez Villafuerte, M. (2018). Project Portfolio Selection with Scheduling: An Evolutionary Approach. International Journal of Combinatorial Optimization Problems and Informatics, 10(1), 25-31. Retrieved from https://ijcopi.org/index.php/ojs/article/view/113
Section
Articles