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To formulate a project selection problem, define a binary decision variable $X_i$ for each project, where $X_i = 1$ if project $i$ is selected and $0$ otherwise. Construct an objective function to maximize the total net return by summing the product of each project's return and its corresponding binary variable.

Conditions: Each project has an associated cost and net return.; Budget constraints apply to specific time periods (e.g., months).; Decisions are binary (select or do not select).

To formulate a project selection problem, define a binary decision variable $X_i$ for each project, where $X_i = 1$ if project $i$ is selected and $0$ otherwise. Construct an objective function to maximize the total net return by summing the product of each project's return and its corresponding binary variable.

Conditions: Each project has an associated cost and net return.; Budget constraints apply to specific time periods (e.g., months).; Decisions are binary (select or do not select).