Optimal Project Selection and Budget Allocation for the Selected Project
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Date
2011-06
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Addis Ababa University
Abstract
Project Selection is the process of evaluating individual projects, to choose the right
project based on an analysis so that the objectives of the company will be achieved. It
involves a thorough analysis including the most important nancial aspect to determine
the most optimum project among all the alternatives. LINGO optimization tool has been
adopted to determine the optimal project. The model presented in the paper shows a
special tool for project selection based on in
uences that govern the project selection
process. Finally, an optimal budget is allocated to the selected project using a dynamic
programming. The result showed that optimal project selection and optimal budget
allocation should be used by organization to maximize their return.
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Computational