One of the most powerful features of Decision Lens is how it enables smarter resource allocation when choices are plentiful but funds are limited. Traditional approaches to resource allocation typically produce a prioritized list of alternatives and dole out the requested funds beginning with the first alternative and continuing until there are no more funds available.
Decision Lens solves dynamic budget allocation problems by using criteria priorities and funding profiles to calculate the benefit / cost ratio of alternative options; and then optimizing to see the impact of these selections to find the best combination of alternatives to fund in order to get the highest potential return. Alternatives are funded based on a genetic algorithm that will select the best mix of alternatives in order to maximize the portfolio value score (the sum of the scores of the projects that are funded) based on the constraints that have been input into the Allocation.
Decision Lens does the math behind the scenes to make smart tradeoffs and give you the biggest bang for your buck — helping you get as much value as possible for your limited resources.
Often, there are multiple funding sources, projects run over the course of several years and there are interdependencies among the projects where one project cannot be started until a supporting project is funded and completed.
Spreadsheets are frequently used to track project budget estimates. Projects are moved around manually in an attempt to gain the highest value out of the portfolio, but with little actual analytical validation behind the changes. Decision Lens is designed to very precisely fund those projects that provide the highest value per dollar. Rather than going down the list from top to bottom, a better approach is to find the optimal portfolio by funding the projects that have the highest return.