Construct a Complex Resource Allocation Model in Excel
Instruction: Outline the process for creating a sophisticated resource allocation model in Excel that handles multiple projects, varying resource availability, and project prioritization.
Context: The candidate should describe a structured approach to building a resource allocation model that includes defining resources, projects, and their attributes. They should explain how to use functions such as SUMPRODUCT for allocation calculations, data tables for scenario analysis, and possibly Gantt charts for visual scheduling. The response should also cover how to implement constraints and optimize resource distribution.
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Model allocation by resource, project and period. A total capacity across the entire project can hide a weekly overload. Record skills, availability, leave, cost, task dependencies and required completion dates; define whether work can be split.
For a simple weekly example, teams A and B have 30 and 20 available hours. Project X needs 25 hours and Y needs 20...