Abstract    Review of theoretical models for cost-effectiveness and of procedures currently being used by different levels of decision makers to evaluate the projects or alternatives is the main objective of this article. To come to some conclusion that which theoretical model would be more effective to be applied for allocating the limited resources among different projects. the performance evaluation procedure has been developed. Some of the popular and commonly used models such as B/C analysis and its various improved versions. Integer Programming has been developed and critically analyzed and the suitable procedure under different levels of project funding strategy is recommended.

Keywords    Optimization, Resource Allocation, Modeling, Effective Algorithms, Economic Evaluation

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