A decision support system for resource allocation

  • Authors:

  • Chang-Kyo Suh

  • Affiliations:

  • School of Business Administration, Kyungpook National University, Daegu, Korea

  • Venue:
  • MCBE'07 Proceedings of the 8th Conference on 8th WSEAS Int. Conference on Mathematics and Computers in Business and Economics - Volume 8
  • Year:
  • 2007

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Abstract

This paper concerns the design of decision support systems (DSSs) which help financial managers in evaluating proposals for strategic and long-range planning. With the proposed two-phased DSS, projects are first selected from a given pool according to greedy heuristics based on the project's preferences as well as the project's efficiency. Then, integer programming with an approximation algorithm is used in the second phase to re-evaluate those proposed projects which met the first phase criteria.