An Improved Discrete Dynamic Programming Algorithm for Allocating Resources among Interdependent Projects
Nemhauser and Ullmann (1969) proposed a discrete dynamic programming (DP) approach for several variations of the basic capital allocation model, including one in which the returns and resource consumption of projects are interdependent. For this case, we augment their DP approach with a branch-and-b...
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| Veröffentlicht in: | Management science 1991-09, Vol.37 (9), p.1195-1200 |
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| container_title | Management science |
| container_volume | 37 |
| creator | Carraway, Robert L. Schmidt, Robert L. |
| description | Nemhauser and Ullmann (1969) proposed a discrete dynamic programming (DP) approach for several variations of the basic capital allocation model, including one in which the returns and resource consumption of projects are interdependent. For this case, we augment their DP approach with a branch-and-bound strategy as suggested in Morin and Marsten (1976). Computational results demonstrate that this enhancement significantly reduces required computation time and effectively removes any limit on the number of nonzero interaction terms allowed. We also demonstrate that our approach compares favorably to an alternative implicit enumeration approach proposed by Hansen (1972). |
| doi_str_mv | 10.1287/mnsc.37.9.1195 |
| format | Article |
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For this case, we augment their DP approach with a branch-and-bound strategy as suggested in Morin and Marsten (1976). Computational results demonstrate that this enhancement significantly reduces required computation time and effectively removes any limit on the number of nonzero interaction terms allowed. We also demonstrate that our approach compares favorably to an alternative implicit enumeration approach proposed by Hansen (1972).</description><identifier>ISSN: 0025-1909</identifier><identifier>EISSN: 1526-5501</identifier><identifier>DOI: 10.1287/mnsc.37.9.1195</identifier><identifier>CODEN: MNSCDI</identifier><language>eng</language><publisher>Linthicum: Institute of Management Sciences</publisher><subject>Algorithms ; Applications ; Capital budgeting ; Capital management ; Dynamic programming ; Integers ; Management science ; Mathematical models ; Minimization of cost ; Project management ; Resource allocation ; Studies</subject><ispartof>Management science, 1991-09, Vol.37 (9), p.1195-1200</ispartof><rights>Copyright 1991 The Institute of Management Sciences</rights><rights>Copyright Institute for Operations Research and the Management Sciences Sep 1991</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/2632334$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/2632334$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,780,784,803,27924,27925,58017,58250</link.rule.ids></links><search><creatorcontrib>Carraway, Robert L.</creatorcontrib><creatorcontrib>Schmidt, Robert L.</creatorcontrib><title>An Improved Discrete Dynamic Programming Algorithm for Allocating Resources among Interdependent Projects</title><title>Management science</title><description>Nemhauser and Ullmann (1969) proposed a discrete dynamic programming (DP) approach for several variations of the basic capital allocation model, including one in which the returns and resource consumption of projects are interdependent. For this case, we augment their DP approach with a branch-and-bound strategy as suggested in Morin and Marsten (1976). Computational results demonstrate that this enhancement significantly reduces required computation time and effectively removes any limit on the number of nonzero interaction terms allowed. We also demonstrate that our approach compares favorably to an alternative implicit enumeration approach proposed by Hansen (1972).</description><subject>Algorithms</subject><subject>Applications</subject><subject>Capital budgeting</subject><subject>Capital management</subject><subject>Dynamic programming</subject><subject>Integers</subject><subject>Management science</subject><subject>Mathematical models</subject><subject>Minimization of cost</subject><subject>Project management</subject><subject>Resource allocation</subject><subject>Studies</subject><issn>0025-1909</issn><issn>1526-5501</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1991</creationdate><recordtype>article</recordtype><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><recordid>eNotT0tLAzEYDKJgrV49eQjed82XbJrkWFofhYIivS8xydZdmqQmqdB_75Z6GoYZ5oHQPZAaqBRPPmRTM1GrGkDxCzQBTmcV5wQu0YQQyitQRF2jm5wHQoiQYjZB_Tzgld-n-OssXvbZJFccXh6D9r3BHyluk_a-D1s8321j6su3x11MI9tFo8tJ-HQ5HpJxGWsfR74KxSXr9i5YF8opY3Cm5Ft01elddnf_OEWbl-fN4q1av7-uFvN1NQBjpZLGUMWEIVJLKqTivFOSf1kLQkvdaNOwjhonqBINaEqI0dyCsR0wqWjHpujxHDt--jm4XNphXBfGxpYCA8EbJkbTw9k05BJTu0-91-nY0hmjjDXsD78ZY-A</recordid><startdate>19910901</startdate><enddate>19910901</enddate><creator>Carraway, Robert L.</creator><creator>Schmidt, Robert L.</creator><general>Institute of Management Sciences</general><general>Institute for Operations Research and the Management Sciences</general><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X5</scope><scope>7XB</scope><scope>87Z</scope><scope>88C</scope><scope>88G</scope><scope>8A3</scope><scope>8AO</scope><scope>8BJ</scope><scope>8FI</scope><scope>8FJ</scope><scope>8FK</scope><scope>8FL</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRNLG</scope><scope>FYUFA</scope><scope>F~G</scope><scope>GHDGH</scope><scope>GNUQQ</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>M0T</scope><scope>M2M</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PSYQQ</scope><scope>Q9U</scope></search><sort><creationdate>19910901</creationdate><title>An Improved Discrete Dynamic Programming Algorithm for Allocating Resources among Interdependent Projects</title><author>Carraway, Robert L. ; 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| fulltext | fulltext |
| identifier | ISSN: 0025-1909 |
| ispartof | Management science, 1991-09, Vol.37 (9), p.1195-1200 |
| issn | 0025-1909 1526-5501 |
| language | eng |
| recordid | cdi_proquest_journals_213175437 |
| source | INFORMS PubsOnLine; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing |
| subjects | Algorithms Applications Capital budgeting Capital management Dynamic programming Integers Management science Mathematical models Minimization of cost Project management Resource allocation Studies |
| title | An Improved Discrete Dynamic Programming Algorithm for Allocating Resources among Interdependent Projects |
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