The article presents the problem of scheduling a multi-stage project with limited availability
of resources with the discounted cash flow maximization criterion from the perspective of
a contractor. The contractor’s cash outflows are associated with the execution of activities.
The client’s payments (cash inflows for the contractor) are performed after completing the
agreed project’s stages. The proposed solution for this problem is the use of insertion algorithms.
Schedules are generated using forward and backward schedule generation schemes
and modified justification techniques. The effectiveness of the proposed procedures is the
subject of the examination with the use of standard test instances with additionally defined
financial settlements of a project.