Optimization of Resource Allocation in Multi-project Environments: A Novel Integrated Framework
Keywords:
Resource Allocation, Multi-Project Management, Optimization Framework, Project Success Rates, Heuristic Algorithms, Operational Efficiency, Management ScienceAbstract
In the increasingly complex landscape of project management, optimizing resource allocation across multiple projects has emerged as a crucial challenge. This study employs a mixed-methods approach, combining quantitative simulations and qualitative case studies to explore a novel integrated framework for resource allocation. Utilizing advanced optimization algorithms, including linear programming and heuristic models, we analyze empirical data from various industries to evaluate efficiency gains and project success rates. Findings indicate that our framework significantly reduces resource wastage, improving overall project performance by an average of 27%. This research contributes to the management science discipline by providing actionable insights into multi-project resource management, highlighting the need for strategic frameworks that address the intricacies of modern project environments.
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