A risk-return based mathematical model for resource allocation with considering the process resilience and continuity

Abstract

In recent high-risk and changing world, optimal resource allocation is significant, which in case of inappropriate resource allocation, will cause significant damage to organizations. In resource allocation and where there is a lack of resources, it is imperative to processes continue and the process's resilience and the risks posed by these lack and unsuitable allocations. If resource allocation is not done properly or is done in short supply, there will be consequences, e.g. processes do not continue properly or are not resilient, or the will be increase in the risks of the processes. In this paper, a novel integrated mathematical model has been developed for resource allocation with considering the process resilience and continuity. Thus, the objective functions of the model is defined according to the four measures of optimal resource allocation such as return, risk, resilience and process continuity. One of the results of the 2 integrated model is that in case of lack of resources, resources can be allocated with the highest return and minimum risk, and in case of critical conditions and lack of resources, their processes and activities do not stop.