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In this paper, a simulated annealig (SA) algorithm developed to solve resource constrained multi-project problem is presented. Object of programming is to minimize project delays plus standby times of activities. From this perspective, this study differs from similar studies. The feasible solution representation is based on a precedence feasible list of activities and resurce assignments. In this study unlike traditional SA algorithms , a very slow cooling schedule and two different stop criteria are used. The algorithm is tested on a randomly generated large problem. The results confirm the effectiveness of the proposed algorithm. [ABSTRACT FROM AUTHOR]