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Linear programming: Analytical methods of supply chain management
You have six projects from which to select (P1, P2, P3, P4, P5, P6). The net present value (NPV) per project is given below. You are given the following constraints also:
(a) Due to limitations on the hours a project manager will be available, a maximum of four out of six projects could be selected.
(b)If Projects 2, 3, and 4 all are selected, then Project 5 must be selected.
(c)If Project 2 is selected, then, and only then, Project 3 could be selected. However, Project 2's selection is not dependent on Project 3's selection.
Question: Which projects would you select and what is the Net Present Value?
Define the decision variables, the objective function, and the constraints within your answer to this question. Then, solve the model using Excel Solver. Finally, copy your spreadsheet into the appendix of your Word report and submit your Excel file to the dropbox.
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