A method and system for optimizing performance of Genetic Algorithm (GA) in solving scheduling problem is disclosed. The method includes receiving input constraints associated with supply and demand sides, for scheduling problem. The method include initializing set of schedules using initializer that sets initial set of solutions for GA to start optimization. The method may include generating parent population for GA. The method may include creating child population via evolution using current probabilistic parameters including crossover and mutation operators. The method may include utilizing a Multi-Level Hierarchical Grouping (MLHG) to de-duplicate child population. The method includes determining a new population from a total population including the parent population and the child population, using custom multi-objective sorting technique. The method may further include updating probabilistic parameters of the GA during runtime using runtime adapter, when pre-determined iterations unattained. The probabilistic parameters are updated iteratively until an optimized schedule is attained.