In this paper, we study a project scheduling problem with the objective of minimizing weighted earliness-tardiness penalty costs, taking into account the time value of money with discounting the cash flows.  We consider the precedence relations among the activities, renewable resource constraints, and a deadline for the project completion. Scatter search algorithm is proposed to deal with this extended form of resource-constrained project scheduling problem in which the continuous discounted negative cash flows are considered. Our implementation integrates advanced methods such as dynamic updating of the reference set and the use of frequency-based memory within the diversification generator. Finally, some test problems are examined and computational results are presented. For small and medium instances, the performance of the proposed algorithm is examined. The computational results clearly prove the efficiency of the proposed meta-heuristic procedure.