The aim of this article is to present a mathematical model to assist in decision-making, result of the approach to the theoretical review of programming by goals, which orient the decision maker on the optimal course of action, in the selection of investment alternatives in SMEs. For this purpose, it was necessary to inquire about the mathematical modeling of the programming by goals and what its application, allowing to identify which principles governed the behavior of the nature of the decision-making process and contribute to the management in internal processes of SMEs, as it is the case of the selection of investment alternatives, that lead to reaching the objectives and purposes defined in the administrative policies, thus stimulating the environment with which the SMEs interact.