Abstract
Recent dismal economic conditions and a ruthlessly competitive environment have forced many companies to restructure or reorganize their priorities. For such companies, the concentration of various resources upon their particular strong points has become one of their main strategies. Consequently, there has been a rapid increase in the importance of 1) selecting profitable projects from a wealth of possible alternatives and 2) optimizing the allocation of current resources among the selected projects. This paper proposes an optimization system for project selection that not only yields the most beneficial project set, but also the optimum allocation of human resources for the selected projects. The optimization system consists of two algorithms, namely 1) a project selection algorithm for choosing the set of projects that maximizes the total estimated profit and 2) a human resource allocation algorithm for optimally placing human resources among the selected projects, having considered the satisfaction rate provided by the required skills, personal motivation and employee career plans.
