Application of simulated annealing approach in resource allocation

Application of quantitative resource allocation methods by considering the constant initial budget is drastically crucial for choosing the optimum combination of available projects. In this paper the simulated annealing (SA) approach is presented to resolve this class of problems. The multiple locations are defined. Also each location includes the various alternatives (projects) that are mutually exclusive. Each project has predefined benefit and cost.

Keywords:

Resource allocation , Simulated Annealing method