Title of article :
Solving acomprehensivemodelformultiobjectiveprojectportfolioselection
Author/Authors :
A.F. Carazo، نويسنده , , TrinidadG?mezb، نويسنده , , Juli?nMolinab، نويسنده , , AlfredoG.Hern?ndez-D?az، نويسنده , , FlorM.Guerrero، نويسنده , ,
Rafael Caballerob، نويسنده ,
Issue Information :
ماهنامه با شماره پیاپی سال 2010
Abstract :
Any organizationisroutinelyfacedwiththeneedtomakedecisionsregardingtheselectionandscheduling
of projectportfoliosfromasetofcandidateprojects.Weproposeamultiobjectivebinaryprogramming
model thatfacilitatesbothobtainingefficientportfoliosinlinewiththesetofobjectivespursuedbythe
organization, aswellastheirschedulingregardingtheoptimumtimetolauncheachprojectwithinthe
portfolio withouttheneedforaprioriinformationonthedecision-makerʹspreferences.Resourcecon-
straints, thepossibilityoftransferringresourcesnotconsumedinagivenaperiodtothefollowingone,
and projectinterdependencehavealsobeentakenintoaccount.Giventhatthecomplexityofthisproblem
increases asthenumberofprojectsandthenumberofobjectivesincrease,wesolveitusingametaheuris-
tic procedurebasedonScatterSearchthatwecallSS-PPS(ScatterSearchforProjectPortfolioSelection).
The characteristicsandeffectivenessofthismethodarecomparedwithotherheuristicapproaches(SPEA
and afullyrandomprocedure)usingcomputationalexperimentsonrandomlygeneratedinstances.
Statement ofscopeandpurpose This paperdescribesamodeltoaidintheselectionandschedulingof
project portfolioswithinanorganization.Themodelwasdesignedassumingstronginterdependence
between projects,whichthereforehavetobeassessedingroups,whileallowingindividualprojectsto
start atdifferenttimesdependingonresourceavailabilityoranyotherstrategicorpoliticalrequirements,
which involvestimingissues.Thesimultaneouscombinationofprojectportfolioselectionandscheduling
under generalconditionsinvolvesknowndrawbacksthatweattempttoremedy.Finally,themodeltakes
into accountmultipleobjectiveswithoutrequiringapriorispecificationsregardingthedecision-makerʹs
preferences.
Keywords :
Scheduling , Metaheuristic methods , Multiobjective decision-making , Nonlinear binary models , Portfolio project selection
Journal title :
Computers and Operations Research
Journal title :
Computers and Operations Research