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Simulation-based approach for Multiproject Scheduling based on composite priority rules

Author

Listed:
  • Pablo Alvarez-Campana
  • Felix Villafanez
  • Fernando Acebes
  • David Poza

Abstract

This paper presents a simulation approach to enhance the performance of heuristics for multi-project scheduling. Unlike other heuristics available in the literature that use only one priority criterion for resource allocation, this paper proposes a structured way to sequentially apply more than one priority criterion for this purpose. By means of simulation, different feasible schedules are obtained to, therefore, increase the probability of finding the schedule with the shortest duration. The performance of this simulation approach was validated with the MPSPLib library, one of the most prominent libraries for resource-constrained multi-project scheduling. These results highlight the proposed method as a useful option for addressing limited time and resources in portfolio management.

Suggested Citation

  • Pablo Alvarez-Campana & Felix Villafanez & Fernando Acebes & David Poza, 2024. "Simulation-based approach for Multiproject Scheduling based on composite priority rules," Papers 2406.02102, arXiv.org.
    • Handle: RePEc:arx:papers:2406.02102
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    File URL: http://arxiv.org/pdf/2406.02102
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    References listed on IDEAS

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    1. A. Alan B. Pritsker & Lawrence J. Waiters & Philip M. Wolfe, 1969. "Multiproject Scheduling with Limited Resources: A Zero-One Programming Approach," Management Science, INFORMS, vol. 16(1), pages 93-108, September.
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    3. Jacek Blazewicz & Klaus H. Ecker & Erwin Pesch & Günter Schmidt & Malgorzata Sterna & Jan Weglarz, 2019. "Handbook on Scheduling," International Handbooks on Information Systems, Springer, edition 2, number 978-3-319-99849-7, September.
    4. Osman Hürol Türkakın & David Arditi & Ekrem Manisalı, 2021. "Comparison of Heuristic Priority Rules in the Solution of the Resource-Constrained Project Scheduling Problem," Sustainability, MDPI, vol. 13(17), pages 1-17, September.
    5. I. Kurtulus & E. W. Davis, 1982. "Multi-Project Scheduling: Categorization of Heuristic Rules Performance," Management Science, INFORMS, vol. 28(2), pages 161-172, February.
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