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

Izack Cohen, Boaz Golany, Avraham Shtub

Research output: Contribution to journalArticlepeer-review

17 Scopus citations

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 languageEnglish
Pages (from-to)181-193
Number of pages13
JournalJournal of Scheduling
Volume10
Issue number3
DOIs
StatePublished - Jun 2007
Externally publishedYes

Bibliographical 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.

Keywords

  • Cross entropy
  • Project management
  • Resource allocation
  • Simulation
  • Stochastic processes
  • Uncertainty

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