Question: Question 3 - You are managing two projects simultaneously with the following details: Project A: Requires 1 0 resources for 5 weeks with a revenue
Question You are managing two projects simultaneously with the following details:
Project A: Requires resources for weeks with a revenue of $
Project B: Requires resources for weeks with a revenue of $
Resource availability: total resources per week.
Penalty for delay: $ per week per project.
Your goal is to allocate resources dynamically to maximize total revenue while minimizing penalties for delay.
Which combinations of methods best solve this problem?
Options:
A Develop a linear programming model to allocate resources across projects while minimizing penalties.
B Use a dynamic programming approach to allocate resources optimally each week.
C Apply sensitivity analysis to test different resource allocations and their impact on revenue.
D Formulate a mixedinteger programming model to account for resource constraints and penalties.
E Use heuristicbased resource allocation combined with Monte Carlo simulation to test outcomes.
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