A methodology for selecting portfolios of projects with interactions and under uncertainty

Ghapanchi, Amir Hossein; Tavana, Madjid; Khakbaz, Mohammad Hossein; Low, Graham

doi:10.1016/j.ijproman.2012.01.012

Cited by 116 publications

(62 citation statements)

References 30 publications

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“…Ghapanchi et al [42] Fuzzy DEA Effective project evaluation and selection strategies can directly impact organizational productivity and profitability.…”

Section: Jiang Et Al [39] Ahpmentioning

confidence: 99%

A Hybrid MCDM Approach for Strategic Project Portfolio Selection of Agro By-Products

Debnath¹,

Roy

Kar

et al. 2017

Sustainability

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Due to the increasing size of the population, society faces several challenges for sustainable and adequate agricultural production, quality, distribution, and food safety in the strategic project portfolio selection (SPPS). The initial adaptation of strategic portfolio management of genetically modified (GM) Agro by-products (Ab-Ps) is a huge challenge in terms of processing the agro food product supply-chain practices in an environmentally nonthreatening way. As a solution to the challenges, the socio-economic characteristics for SPPS of GM food purchasing scenarios are studied. Evaluation and selection of the GM agro portfolio management are the dynamic issues due to physical and immaterial criteria involving a hybrid multiple criteria decision making (MCDM) approach, combining modified grey Decision-Making Trial and Evaluation Laboratory (DEMATEL), Multi-Attributive Border Approximation area Comparison (MABAC) and sensitivity analysis. Evaluation criteria are grouped into social, differential and beneficial clusters, and the modified DEMATEL procedure is used to derive the criteria weights. The MABAC method is applied to rank the strategic project portfolios according to the aggregated preferences of decision makers (DMs). The usefulness of the proposed research framework is validated with a case study. The GM by-products are found to be the best portfolio. Moreover, this framework can unify the policies of agro technological improvement, corporate social responsibility (CSR) and agro export promotion.

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“…Ghapanchi et al [42] Fuzzy DEA Effective project evaluation and selection strategies can directly impact organizational productivity and profitability.…”

Section: Jiang Et Al [39] Ahpmentioning

confidence: 99%

A Hybrid MCDM Approach for Strategic Project Portfolio Selection of Agro By-Products

Debnath¹,

Roy

Kar

et al. 2017

Sustainability

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“…PPM processes and tools aim to alleviate one or more of these challenges to improve decisions -for example by filtering and formatting information in a way that aids interpretation in the time available and within human cognitive limits. Comprehensive computer-based decision support systems have been suggested, with the aim of streamlining decision making and thus making better use of decision-making time (Shim et al, 2002), and numerous studies have proposed complex simulations and mathematical algorithms to incorporate multiple criteria and considerations for portfolio decision making (see for example (Eilat et al, 2006, Ghapanchi et al, 2012, Zschocke et al, 2013, Fliedner and Liesiö, 2016). Recognizing the limitations of purely computational models, some models also include processes for incorporating human input.…”

Section: Bounded Rationality and Ppm Decision Makingmentioning

confidence: 99%

Managing portfolio interdependencies

Killen

2017

IJMPB

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STRUCTURED ABSTRACT PurposeThis study aims to improve decision quality, and therefore project and portfolio success, by testing the influence of different visual representations of interdependency data in a simulated decision experiment. A network mapping approach to visualize project interdependencies is introduced and compared with matrix and tabular displays. Design/methodology/approachA simulated decision task in a controlled classroom setting tested five hypotheses though a sample of 480 experiments. FindingsThe type of data representation used is associated with differing levels of decision quality, and the use of network mapping displays is aligned with the best results. Research limitations/implicationsThe findings are limited as this experiment-based study presented a simplified decision scenario and involved students rather than practicing managers. The findings are best interpreted in combination with organization-based research. Practical implicationsThe findings of this study suggest that visual data displays, particularly network mapping displays, can provide benefits and improve project portfolio decision quality. Managers may draw upon this study to design ways to include visual data representations in their PPM decision processes. Page 2 Originality/valueThis study uses experimentation to complement organization-based studies to better understand the influence of different methods of visualizing data and managing interdependencies between projects. This research provides an important contribution to meet the acknowledged need for better tools to understand and manage project interdependencies.

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“…The data were first prepared to be entered into the Rucksack problem using fuzzy variables and the problem was then solved using artificial bee colony algorithm. (Ghapanchi et al, 2012) presented a method for the selection of project portfolios and took account of the interaction between the projects and the uncertainty parameter. (Sheikhrabori et al, 2012) presented a reliable and efficient method for prioritizing project portfolios in an electric company.…”

Section: Introductionmentioning

confidence: 99%

Integration of a New MCDM Approach Based on the DEA, FANP with MONLP for Efficiency-Risk Assessment to Optimize Project Portfolio by Branch and Bound: A Real Case-Study

Sharifighazvini¹,

Ghezavati²,

Raissi³

et al. 2018

ECECSR

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A methodology for selecting portfolios of projects with interactions and under uncertainty

Cited by 116 publications

References 30 publications

A Hybrid MCDM Approach for Strategic Project Portfolio Selection of Agro By-Products

A Hybrid MCDM Approach for Strategic Project Portfolio Selection of Agro By-Products

Managing portfolio interdependencies

Integration of a New MCDM Approach Based on the DEA, FANP with MONLP for Efficiency-Risk Assessment to Optimize Project Portfolio by Branch and Bound: A Real Case-Study

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