Abstract
The objective of this research was to schedule project activities based on maximum net present value (NPV) and minimum duration. A new hybrid heuristic based on the combination of minimum late start (MLS) and shortest processing time (SPT) priority-rules heuristics was developed. The new late start and shortest processing time (LSSPT) heuristic was tested using 60 problems of the Patterson set, and results compared with 4 other heuristics. To test all 5 previous heuristics, 5 computer programs were developed. Statistical analysis was performed. Results indicate that the new heuristic produced better and encouraging results.
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