Greedy Heuristic
The Greedy Heuristic is a stepwise, iterative procedure. At each step, it scans each planning unit that is not yet in the portfolio and selects the one that reduces the total cost by the greatest amount, until all element goals have been satisfied to the extent possible. At this point according to the objective function it is not ‘cost effective’ to add any more planning units. This procedure, which has been widely used in previous studies, has the advantage of being extremely fast and producing reasonably efficient solutions.