An investigation into finite resource allocation methods

M. Ing.The report presents and analyses allocation methods for assigning limited resources to project tasks. The report is partitioned into five chapters beginning with an introductory chapter. Chapter 1 summarises the problem and describes the process followed in addressing the problem. A literature chapter covers the literature for the development and analysis of the methods presented in the report. Chapter three presents the allocation methods and discusses the role of the methods in single and multi-project resource allocation. Two commercial methods (Hu’s Algorithm; and Coffman’s and Munt’s Algorithm) along with a recipe for implementation are discussed. It is followed by the introduction and formulation of two additional methods that base their resource allocation on critical and least slack chains (Least Slack and Least Slack Ancestors First methods). A final method, based on locating the best possible solution, is presented and formulated (Best Fit method). A case study is presented in chapter four which is applied to each of the formulated methods in chapter three. Key metrics are derived and necessary compassions among the methods are performed. Chapter 4 concludes with an analysis of the comparisons. Finally Chapter five presents a conclusion to the report summarising the results of chapters three and four. Future recommendations are also discussed with the main emphasis on a possible investigation of a hybrid method stemming from the application and analysis in chapter four