Optimization of Time, Cost, and Quality in Critical Chain Method Using Simulated Annealing (RESEARCH NOTE)

In the last decade, theory of constraint application in project management lead to make a new approach for project scheduling and control as a critical chain. In this paper, a multi-objective optimization model for multi-project scheduling on critical chain is investigated. The objectives include time, cost and quality. In order to solve the problem, a Simulated Annealing algorithm is developed and then analyzed to investigate the effect of each objectives. The number of activities in each project is not considered the same. Time, cost and quality value are calculated by solving the proposed algorithm and then the total utility amount is obtained. Sensitivity analysis is performed based on various amount of each objective weights. Then the effect of objectives weight variation is investigated on utility function value. In addition the results show that the proposed algorithm are able to solve problem optimally in large scale.