Resource allocation in project portfolio management: practice in the Baltic States

Abstract

The resource allocation problem is to find an optimal allocation of limited resources to a number of projects for optimizing the objectives. A wide variety of resource allocation models have been introduced over the years, including linear programming, scoring models, group decision techniques and so on. Some of these techniques are not widely used because they are too complicated for decision making. This paper presents the results of research carried out in enterprises in the Baltic States on the use of resource allocation tools in making decisions concerning project portfolio management.