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

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...

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Bibliographic Details
Published inJournal of scheduling Vol. 10; no. 3; pp. 181 - 193
Main Authors Cohen, Izack, Golany, Boaz, Shtub, Avraham
Format Journal Article
LanguageEnglish
Published New York Springer Nature B.V 01.06.2007
Subjects
Aircraft
Entropy
Heuristic
Mathematical models
Product development
Project management
Queueing
Queuing theory
Random variables
Resource allocation
Scheduling
Simulation
Studies
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Summary: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.
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ISSN:1094-6136
1099-1425
DOI:10.1007/s10951-007-0013-0