Optimal Project Selection And Budget Allocation For The Selected Project

Project Selection is the process of evaluating individual projects, to choose the rightrnproject based on an analysis so that the objectives of the company will be achieved. Itrninvolves a thorough analysis including the most important nancial aspect to determinernthe most optimum project among all the alternatives. LINGO optimization tool has beenrnadopted to determine the optimal project. The model presented in the paper shows arnspecial tool for project selection based on inrnuences that govern the project selectionrnprocess. Finally, an optimal budget is allocated to the selected project using a dynamicrnprogramming. The result showed that optimal project selection and optimal budgetrnallocation should be used by organization to maximize their return.

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