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PARM--An Economic Programming Model

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  • Marshall K. Wood

    (National Planning Association, Washington, D.C.)

Abstract

PARM is an acronym for Program Analysis for Resource Management. It is a general-purpose system for preparing feasible schedules for large, complex systems of interdependent activities to support specified objectives subject to resource constraints. The procedure provides for an iterative process alternating between human decision-making and machine computation in which the goal is achievement of a feasible and acceptable program. Feasibility is objectively determined, but acceptability is subjectively determined. No overall optimizing criterion is assumed to be definable; but many optimizing procedures of limited scope are included.

Suggested Citation

  • Marshall K. Wood, 1965. "PARM--An Economic Programming Model," Management Science, INFORMS, vol. 11(7), pages 619-680, May.
    • Handle: RePEc:inm:ormnsc:v:11:y:1965:i:7:p:619-680
    DOI: 10.1287/mnsc.11.7.619
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