How to Use the Excel Solver to Determine the Projects that Should Be Implemented – 3 Examples

How to Enable the Excel Solver

• Go to the File tab.

• Go to More… > Options.

• Click Add-ins > Solver Add-ins > OK.

• In the Developer tab, select Excel Add-ins.

• Check Solver Add-in  and click OK.

• Go to Data > Solver to open the Solver Parameters dialog box.

Example 1 – Maximizing the NPV to Determine the Projects that Should Be Implemented

Steps:

• Create a dataset. Include Project No, NPV, Year 1, and Year 2.

• Add Objective, By Changing Cells, and Needed.

• Go to Data>Solver to open the Solver Parameters dialog box.
• Enter data in Set Objective, To, By Changing Variable Cells, Subject to Constraints, and Select a Solving Method.
• Click Solve.

• In Solver Results, select Keep Solver Solution and click OK.

This is the output.

Read More: How to Do Portfolio Optimization Using Excel Solver

Example 2 – Determine the Project that must be Implemented If One Project is completed

Steps:

• Create a dataset.

• Go to Data>Solver to open the Solver Parameters dialog box.
• Enter data in Set Objective, To, By Changing Variable Cells, Subject to Constraints, and Select a Solving Method.
• Click Solve.

This is the output.

Read More: How to Use Excel Solver for Linear Programming

Example 3 – Determining the Number of Projects That Must be Implemented

Steps:

• Create a dataset.

• Go to Data>Solver to open the Solver Parameters dialog box.
• Enter data in Set Objective, To, By Changing Variable Cells, Subject to Constraints, and Select a Solving Method.
• Click Solve.

This is the output.

Read More: Example with Excel Solver to Minimize Cost

Download Practice Workbook

Download the practice workbook.

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