This paper presents a fresh perspective on the Markov reward process. In order to bring Howard's [Howard, R. A. 1969. Dynamic Programing and Markov-Process. The M.I.T. Press, 5th printing.] model closer to practical applicability, two very important aspects of the model are restated: (a) We make...

The purpose of this note is to discuss the usefulness of activity analysis as a general approach and as a wide framework in which it becomes possible to analyze the selection of optimal combinations of projects in the dependence case.