1Department of Industrial Engineering, Islamic Azad University, Qazvin Branch, Qazvin, Iran
2Faculty of Industrial Engineering, K.N. Toosi University of Technology, Tehran, Iran
Projects scheduling by the project portfolio selection, something that has its own complexity and its flexibility, can create different composition of the project portfolio. An integer programming model is formulated for the project portfolio selection and scheduling.Two heuristic algorithms, genetic algorithm (GA) and simulated annealing (SA), are presented to solve the problem. Results of calculations show that the algorithm performance of GA is better than SA in project portfolio selection to maximize the NPV of the project portfolio.