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Model to optimize number of possible bids given budgets

The attached files provide a definition of the problem, especially the powerpoint slide.

Given the information, I am trying to develop a linear programming model such that I maximize the number of possible bids given the limited resources of budgets and writers. Essentially, which of the 10 bids should I take on, given the limitations of availability and cost of writers.

I am assuming all bids are released for bid at the same time and are due at the same time over a 4 week period.

Attachments

Solution Preview

Please see attached files(s)

NOTE: There are 1 worksheet in the Excel file

I took into account the probability of the bid's success on the expected estimated profit

I also assumed that the problem at hand is only for 4 weeks, hence the constraint I defined for the labor requirements.

PROBLEM

I have ten targets
Project Project
Value
($) Probability of Success Estimated
Bid Cost ($) Allowed
Labor ($) Estimated Project Profit ...

Solution Summary

A linear programming model to optimize a number of possible bids given budgets are examined.

$2.19

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