A new model for optimising simultaneously projects selection and resource-constrained project scheduling problem

The problem of project selection and scheduling is in combination with a few maximum amount of resource constraints and the net present values of the project modelling, analysis and solving. In this study, it is found that the number of available project should be given. Decision makers should consider a subset of these projects, regarding to time and resources limitations. A majority of project selection models do not consider process scheduling too. However, except for the cases in which only one project is active at a certain time during the project, it is not optimal to prioritise the selected projects regardless of their timing. The complexity of scheduling the activities of the selected portfolio of projects is more than the selection itself. Nevertheless, the study investigates all the aspects of both selection and scheduling at the same time in order to build up a comprehensive model.