Track: Operations Research
Abstract
This paper deals with the problem of selection and scheduling of interdependent projects in an integrated manner. Two types of interdependencies among projects-mutual exclusiveness and complementariness are considered which are found to be of great practical importance. The problem seeks to maximize the total expected benefit from the selected projects wherein the benefit from a project is considered to be time dependent. A mathematical model for the problem along with an illustrative example is presented. A modified genetic algorithm (GA) is developed to solve the real life problems. The proposed algorithm is evaluated on a set of randomly generated test problems with varying complexity. The performance of the proposed GA is compared with TS algorithm. The proposed GA is found to outperform TS.