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.
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.
I have ten targets
($) Probability of Success Estimated
Bid Cost ($) Allowed
Labor ($) Estimated Project Profit ...
A linear programming model to optimize a number of possible bids given budgets are examined.