Cost minimization of m simultaneous projects that require the same scarce resource |
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Authors: | Mary N. Trypia |
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Affiliation: | The Athens Graduate School of Economics and Business Science, Athens, Greece |
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Abstract: | A company is responsible for m projects which are carried out concurrently. All m projects require the use of the same scarce resource for some time periods. An Integer Programming model is here presented to solve the problem of optimally allocating the scarce resource to the m projects so that the sum of total costs of carrying out the m projects is minimized. |
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