Resource allocation in stochastic, finite-capacity, multi-project systems through the cross entropy methodology

Izack Cohen; Boaz Golany; Avraham Shtub

doi:10.1007/s10951-007-0013-0

Resource allocation in stochastic, finite-capacity, multi-project systems through the cross entropy methodology

Izack Cohen, Boaz Golany, Avraham Shtub

Data and Decision Sciences

Research output: Contribution to journal › Article › peer-review

Abstract

This paper addresses the problem of resource allocation in a finite-capacity, stochastic (random) and dynamic multi-project system. The system is modeled as a queuing network that is controlled by limiting the number of concurrent projects. We propose a Cross Entropy (CE) based approach to determine near-optimal resource allocations to the entities that execute the projects. The performance of the suggested approach is demonstrated through numerical experiments and compared to that of a heuristic, rough-cut based method.

Original language	English
Pages (from-to)	181-193
Number of pages	13
Journal	Journal of Scheduling
Volume	10
Issue number	3
DOIs	https://doi.org/10.1007/s10951-007-0013-0
State	Published - Jun 2007

Keywords

Cross entropy
Project management
Resource allocation
Simulation
Stochastic processes
Uncertainty

ASJC Scopus subject areas

Software
General Engineering
Management Science and Operations Research
Artificial Intelligence

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10.1007/s10951-007-0013-0

Cite this

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abstract = "This paper addresses the problem of resource allocation in a finite-capacity, stochastic (random) and dynamic multi-project system. The system is modeled as a queuing network that is controlled by limiting the number of concurrent projects. We propose a Cross Entropy (CE) based approach to determine near-optimal resource allocations to the entities that execute the projects. The performance of the suggested approach is demonstrated through numerical experiments and compared to that of a heuristic, rough-cut based method.",

keywords = "Cross entropy, Project management, Resource allocation, Simulation, Stochastic processes, Uncertainty",

author = "Izack Cohen and Boaz Golany and Avraham Shtub",

note = "Funding Information: We are grateful to Dr. Jan van Duin for providing purified S1 protein and anti-S1 antibodies and to Dr. Rail Mattes for providing plasmid pUBS520. K.T. was supported by a Lise Meitner fellowship from the Austrian Science Foundation (M007-MOB). This work was funded by grant 72 from the Swedish Medical Research Council to E.H.-L. and by grant P8963-MOB from the Austrian Science Foundation to U.B.",

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KW - Simulation

KW - Stochastic processes

KW - Uncertainty

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Resource allocation in stochastic, finite-capacity, multi-project systems through the cross entropy methodology

Abstract

Keywords

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