An Optimal Project Scheduling Model with Lump-Sum Payment

Project scheduling is essential in enterprise operations. Not only does it increase working efficiency but also the enterprise’s profit. In the past, there have been studies developing heuristic algorithms to efficiently solve the complicated multi-mode resource constrained project scheduling problem with discounted cash flows (MRCPSPDCF). These obtained solutions are approximate rather than optimal, making it difficult to evaluate their solution quality. In this study, an optimization model, embedded in a time-precedence network, is proposed to optimally solve the MRCPSPDCF with lump-sum payment. Mathematically, the model is formulated as an integer network flow problem with side constraints, which can be efficiently solved for optimality, using mathematical programming software. To evaluate the model performance, numerical tests are performed. The test results show the good performance of the model.