A Study on Project Portfolio Models with Skewness Risk and Staffing

Xu, Weiqing; Liu, Guifang; Li, Hongyi; Luo, Weiqiang

doi:10.1007/s40815-017-0295-0

Cited by 12 publications

(9 citation statements)

References 38 publications

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“…Modern Portfolio Theory [62][63][64][65][66] This model uses the trade-off between risk and returns to find the efficient frontier. It is based on the traditional Markowitz mean-variance model, but other risk measures have been implemented in order to optimize a portfolio of non-divisible projects.…”

Section: Methods Descriptionmentioning

confidence: 99%

Project portfolio risk management: a structured literature review with future directions for research

Micán

Fernandes

Araújo

2021

IJISPM

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Project Portfolio Risk Management (PPRM) has been identified as a relevant area regarding project portfolio success. This paper reports on a structured literature review of PPRM. A structured search and selection process was carried out and conventional content analysis was conducted in the literature analysis of 62 papers published in international journals. PPRM has its theoretical and practical bases in the modern theory of portfolios, decision theory and risk management (RM). The content analysis reveals four main recurrent topics in PPRM: (1) The influence of RM on project portfolio success, based on project portfolio impact level, moderators or contingency factors between RM and project portfolio success, and PPRM dimensions; (2) risk and project interdependencies, highlighting resources, technology, outcome, value, and accomplishment project interdependencies; (3) project portfolio risk (PPR) identification, where four main risk source categories are identified; and (4) PPR assessment, composed of risk measures and the main methods used for risk assessment. Therefore, this study provides an overview of PPRM as a research field, while it also promotes four future research directions: (1) PPRM as part of organizational RM; (2) RM,success dimensions and strategic impact; (3) mechanisms for PPR assessment, and (4) PPRM as a complex and dynamic system.

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Section: Methods Descriptionmentioning

confidence: 99%

Project portfolio risk management: a structured literature review with future directions for research

Micán

Fernandes

Araújo

2021

IJISPM

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“…The conceptualization of risk derived from Modern Portfolio Theory, developed by Harry Markowitz in 1952, is presented as the seminal theory insofar as project portfolio risk is a concern [28]. Modern Portfolio Theory has been used to establish a parallel between financial portfolios and project portfolios, specifically focusing on risk incorporation into the project portfolio selection process [17,19], thus adopting a general risk management approach [20].…”

Section: Literature Review 21 Risk In Project Portfoliosmentioning

confidence: 99%

Disclosing the Tacit Links between Risk and Success in Organizational Development Project Portfolios

2022

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Project portfolios aim to impact organizational strategic goals, influencing both the organization’s business model and its processes. Nonetheless, the actual impact is dependent on the portfolio’s success, which is affected by the materialization of risk factors. This study aims to examine the tacit conceptualization of project portfolio risk as a risk measure explicitly based on project portfolio success itself. In order to focus on the portfolios of organizational development projects, Social Representation Theory was adopted to analyze empirical evidence from twenty-eight semi-structured interviews conducted with project portfolio practitioners. Findings showed that strategic fit, future preparedness, and stakeholder satisfaction were dimensions of success within which project portfolio risk could be conceptualized. Additionally, results evidenced that risk factors influenced project portfolio success through systematic and non-systematic impacts on project portfolio outputs, and also had direct impacts on project portfolio outcomes. This paper provides empirical evidence to back up the conceptualization of project portfolio risk explicitly oriented to portfolio success as a multidimensional risk measure. It represents a new avenue for conducting portfolio risk analysis for both practitioners and academics, orienting the decision-making process based on the portfolio success rather than only on the success of each project.

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“…Deng et al [28] built a mean-entropy model in the framework of credibility theory. Xu et al [29] proposed a credibilistic semi-variance project portfolio model with skewness risk constraints.…”

Section: Introductionmentioning

confidence: 99%

Credibilistic Mean-Semi-Entropy Model for Multi-Period Portfolio Selection with Background Risk

Zhang

2019

Entropy

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In financial markets, investors will face not only portfolio risk but also background risk. This paper proposes a credibilistic multi-objective mean-semi-entropy model with background risk for multi-period portfolio selection. In addition, realistic constraints such as liquidity, cardinality constraints, transaction costs, and buy-in thresholds are considered. For solving the proposed multi-objective problem efficiently, a novel hybrid algorithm named Hybrid Dragonfly Algorithm-Genetic Algorithm (HDA-GA) is designed by combining the advantages of the dragonfly algorithm (DA) and non-dominated sorting genetic algorithm II (NSGA II). Moreover, in the hybrid algorithm, parameter optimization, constraints handling, and external archive approaches are used to improve the ability of finding accurate approximations of Pareto optimal solutions with high diversity and coverage. Finally, we provide several empirical studies to show the validity of the proposed approaches.

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A Study on Project Portfolio Models with Skewness Risk and Staffing

Cited by 12 publications

References 38 publications

Project portfolio risk management: a structured literature review with future directions for research

Project portfolio risk management: a structured literature review with future directions for research

Disclosing the Tacit Links between Risk and Success in Organizational Development Project Portfolios

Credibilistic Mean-Semi-Entropy Model for Multi-Period Portfolio Selection with Background Risk

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