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An Approximate Dynamic Programming Approach to Financial Execution for Weapon System Programs

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dc.contributor.advisor Ganesan, Rajesh Morman, Erich
dc.creator Morman, Erich en_US 2013-08-09T15:40:05Z 2013-08-09T15:40:05Z 2013 en_US
dc.description.abstract During each twelve month fiscal year (FY) cycle weapon system programs across the Department of Defense (DoD) are expected to execute their allocated budgets in an expedient and timely manner. As the FY progresses, a weapon system's cash flow state at any given moment is primarily measured by the cumulative amounts of their budget that are either committed, obligated, accrued, or expended. Regulatory and oversight initiatives such as midyear financial execution reviews and published monthly execution goals serve as measures that are designed to ensure that there is in fact high utilization of a weapon system's allocated yearly budget. The challenge of finding an ideal monthly commitment cash flow policy that achieves a high level of utilization can be expressed as a sequential decision making problem over time. The mathematical area known as Markovian analysis is dedicated to modeling and finding solution methods that focus on such problems with emphasis on understanding how the system moves from state to state throughout the decision process. The complexity of the problem examined in this research stems from the size of the multimillion dollar budgets in question and the numerous projects they fund. In turn, weapon system offices must make hundreds of commitment action determinations over any given fiscal year in an environment of uncertainty. This intricate decision system necessitates that decision makers have good mathematical tools that can assist them with determining an optimal commitment policy.
dc.format.extent 168 pages en_US
dc.language.iso en en_US
dc.rights Copyright 2013 Erich Morman en_US
dc.subject Operations research en_US
dc.subject Finance en_US
dc.subject Approximate Dynamic Programming en_US
dc.subject Bellman's Equation en_US
dc.subject Budget Execution en_US
dc.subject Department of Defense en_US
dc.subject Financial Execution en_US
dc.subject Sequential Decision Making en_US
dc.title An Approximate Dynamic Programming Approach to Financial Execution for Weapon System Programs en_US
dc.type Dissertation en Doctoral en Systems Engineering en George Mason University en

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