DocumentCode
2619279
Title
Mathematical models and simulation for project portfolios optimization
Author
Cao, RongZeng ; Ding, Wei ; Ray, Bonnie
Author_Institution
IBM China Res. Lab, Beijing
fYear
2007
fDate
9-12 Dec. 2007
Firstpage
2363
Lastpage
2363
Abstract
Summary form only given. Most organizations do not have sufficient resources to meet all of their obligations; selecting which projects should be funded is not just ranking projects and funding them ´top-down´ until resources are depleted. Organizations need to balance the benefits that project portfolios provide with their respective constraints and they need to do so in a meaningful way. To address this problem, we propose using enterprise portfolio analysis to reach the optimal projects mix and maximize the collective benefits, while balancing other factors such as risk, dependency and budget etc. Three extended mathematical models and revised dynamic programming algorithms together with simulation optimization are proposed based on solution of standard knapsack problem. Specifically, the proposed models and algorithms are illustrated using an example from practices.
Keywords
dynamic programming; knapsack problems; project management; simulation; dynamic programming; enterprise project portfolio analysis; mathematical model; optimization; simulation; standard knapsack problem; Dynamic programming; Heuristic algorithms; Mathematical model; Portfolios; Risk analysis;
fLanguage
English
Publisher
ieee
Conference_Titel
Simulation Conference, 2007 Winter
Conference_Location
Washington, DC
Print_ISBN
978-1-4244-1306-5
Electronic_ISBN
978-1-4244-1306-5
Type
conf
DOI
10.1109/WSC.2007.4419878
Filename
4419878
Link To Document