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Outline
Constraints
Method of Ranking
Mathematical programming approach
Linear programming model
Integer linear programming model
Goal programming model
Constraints
Project dependence
Mutual exclusiveness
Negative economic dependency
Positive economic dependency
Capital rationing
Project indivisibility
Methods of Ranking
Maximise
n
j=1NPVj Xj
Subjectnto
j
=1CFjt Xj Kt (t = 0,1,.m)
0 Xj 1
Where NPVj
Xj
n
Xj NPVj
j =1
n
CFjt Xj Kt (t = 0,1,.m)
j =1
Xj
= (0,1)
Mutual exclusiveness
Contingency
Complementariness