One of the most important aspects of project planning and control for many project managers is cost; that is because the consideration of cost influences the speed of doing activities, utilization of equipment, human, and other instances. Therefore, if the information of resources and activities’ costs be prospected before the execution of project then the cost of resources, activities, and in general the total cost of the project with cash flow diagram could be determined. So by considering and comparing the real cost of activities with estimated cost, the resource and activities could be controlled properly regarding to time and budget. In CPM method which was extremely used for project scheduling in the past years, all activities can be executed in expected and usual time while sometimes especially in just in time systems, it is needed that the project execute on scheduled time. Therefore, the time of some activities should be reduced to complete the project on time. This needs increasing the cost and resources. In addition with the time value of money if the project stopped or delayed then the capital cost spent on the project is discounted. The present research is focused on the single scheduling deterministic models of one of the special mood of project scheduling problems in which the objective is to minimize the present value of the earliness – tardiness penalties of the activities of the project. The problem is solved based on two developed Metaheuristics algorithms including electromagnetism and particle swarm optimization algorithms. Then extensive computational experiments have been done on existing benchmark datasets to evaluate the performance of represented methods. Finally the best algorithm has been introduced based on the results.
