Institute of Transportation, MOTC

Instead of arbitrarily evaluating the performance of those projects, this paper contributes a method for quantifying and jointly optimizing the results of project selections and budget allocations, while also considering the proportion and minimum required amount of each proposed budget. A basic model (Model 1) adapted from the typical 0-1 knapsack problem, an extended mixed integer programming model (Model 2), and a multi-objective mixed integer nonlinear programming model (Model 3) are developed in this study.