Mention the advantages of dynamic programming approach

An advantage of the dynamic programming approach is the fact that it can be implemented with a simple algorithm consisting of only arithmetic operation.

Advantage of the dynamic programming approach:

(i) Large problems can be solved with a minimum number of calculations.

(ii) There are always a finite number of steps required in computing an optimum solution.

(iii) There are no restrictions on the form of the functional expression for computing reliability on the form of the cost-estimating equations.

(iv) Non liner functions can be used if required.

(v) Dynamic programming algorithm provides a guide through the maze of possible alternate calculations.