Capital budgeting under uncertainty: an extended goal programming approach

Article Abstract:

An extended goal programming approach is presented as a solution to the problem of capital budgeting under uncertainty to overcome the defects of chance-constrained capital budgeting models. The needed conditions for the acceptance of a set of investment projects by a company are also provided. The findings suggest that under uncertainty, firms confronted with capital rationing are less economically efficient than others. Further, the findings reveal that optimal allocation policy under uncertainty demands the actual discount rate to be greater than the market cost capital, which conforms with corporate finance practice.

Capital Budgeting, Allocation (Accounting), Capital budgets

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The scientific approach to problem solving and decision support systems

Article Abstract:

Some of the vital issues in the study and design of decision support systems (DSS) are discussed. Many concepts of DSS resulted from such objectives as attempting to help management. However, as a multi-disciplinary approach, DSS were not drawn up to support routine decision making or recurring management information needs. Since the hard or mathematically oriented approach to DSS design is limited, Soft Systems Methodologies concepts must continue being significant in the design of DSS since both Soft Systems Methodologies and DSS were shown to be concerned with complexity management.

Management, Problem solving, Decision support systems

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Development of a practical goal programming system for solving semi-large size multi-criterion planning problems

Article Abstract:

A goal programming (GP) system has been developed for solving semi-large size multi-criterion programming problems usually encountered by decision makers. The system relies on a two-step modeling approach to build a GP model that will take into account the different parameters that affect the system's programming efficiency. IT has been proven to be very useful for solving semi-large size multi-criterion programming problems at high speed and reduced memory.

Methods, Production planning

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