Abstract
In this paper, we address the problem of budget allocation in a multi-project environment under uncertainty. The uncertainty is in the completion time of milestones of individual projects. Companies have the opportunity to invest funds allocated for these projects and also to borrow funds to pay the subcontractors at each milestone for a predetermined amount. The corresponding mathematical model is a linear (dynamic) programming model with stochastic due dates. We propose heuristic methods to solve this problem and compare the performance of these methods with the optimal solution using a simple numerical example.
Original language | English (US) |
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Pages | 1628-1636 |
Number of pages | 9 |
State | Published - 2012 |
Externally published | Yes |
Event | 62nd IIE Annual Conference and Expo 2012 - Orlando, FL, United States Duration: May 19 2012 → May 23 2012 |
Other
Other | 62nd IIE Annual Conference and Expo 2012 |
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Country/Territory | United States |
City | Orlando, FL |
Period | 5/19/12 → 5/23/12 |
All Science Journal Classification (ASJC) codes
- Industrial and Manufacturing Engineering
Keywords
- Dynamic programming
- Modified due dates
- Multi-project environment
- Stochastic process