Optimal Constrained Resource Allocation in PERT: A Hybrid Approach

The optimal allocation of limited resource among the activities of a project, represented by a pert-type network (ptn) is studied in this paper. the project needs to be completed within some specified period of time. the objective is to maximize the probability of project completion on time. the duration of each activity is a random variable and also depends on the amount of the consumable resource allocated to it. we develop an analytical approach consists of some algorithms to obtain the optimal solution. then, for large and complex networks a hybrid approach is also developed by integrating conditional monte carlo simulation with our analytical method. the proposed approach is illustrated through some examples.