Evaluating the quality of solutions in project portfolio selection

Коротков, В. В.; Wu, Desheng Dash

doi:10.1016/j.omega.2019.01.007

Cited by 21 publications

(9 citation statements)

References 32 publications

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“…According to Si et al [39], MCDM methods allow for transforming a complex problem of decision making into welldefined steps, which will lead to the selection of an optimal solution. As claimed by Korotkov and Wu [81], MCDM methods are very important when choosing a project from the portfolio of investment projects, which often have conflicting objectives, in order to meet the investor's requirements regarding a particular project. MCDM methods help to compare the alternatives to and importance of criteria using mathematical models and expressions.…”

Section: Sustainability Measurement Tools For Real Estate Projectsmentioning

confidence: 99%

“…In light of the above, MCDM methods are popular and easy-to-apply tools that allow for combining conflicting criteria and selecting an optimal solution. According to the literature review [78][79][80][81][82][83][84][85][86][87], the most appropriate means to assess the sustainability of a real estate project is by applying MCDM methods, which allow for including conflicting criteria.…”

Section: Sustainability Measurement Tools For Real Estate Projectsmentioning

confidence: 99%

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Assessment of the Sustainability of a Real Estate Project Using Multi-Criteria Decision Making

2021

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Today, sustainability, sustainable development and clean environment come to the fore worldwide. Consequently, the concept of sustainability has been introduced in project management. Sustainability issues have gained particular attention in the real estate sector. However, despite the fact that this sector has a huge impact on the environment and society, real estate projects are most commonly chosen taking into account only their risk and return, and a very limited number of indices and methods are available to assess their sustainability. Moreover, all of the existing indices and models for assessing the sustainability of an investment project take into account only three dimensions of sustainability—environmental, social and economic. Therefore, the novelty of this work lies in constructing a real estate sustainability index (RESI) relying on an additional sustainability aspect—i.e., a technological dimension. The developed sustainability index could be useful in evaluating and comparing real estate projects. It would also promote technological progress and investments in new technologies within projects as sustainability is also considered in a new, technological dimension. A research study was carried out between September 2020 and December 2020. Following an analysis of the literature and different sustainability-related standards relevant for the real estate industry, sustainability criteria were chosen and then grouped into four (environmental, social, economic and technological) categories. The selection and ranking of the most relevant sustainability criteria were performed through a survey. The index was compiled by applying multi-criteria decision making methods.

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Section: Sustainability Measurement Tools For Real Estate Projectsmentioning

confidence: 99%

Section: Sustainability Measurement Tools For Real Estate Projectsmentioning

confidence: 99%

Assessment of the Sustainability of a Real Estate Project Using Multi-Criteria Decision Making

2021

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“…To reflect the resource interaction and revenue interaction in the model, the objective function and constraints need to reflect some additional instructions. For example, the total contribution is equal to the sum of the respective contributions of the candidate projects plus or minus the additional contributions due to interaction, as shown in equation (1).…”

Section: Interaction Effect Mcgpmentioning

confidence: 99%

“…erefore, it is very important to choose a portfolio in the process of enterprise portfolio management. Portfolio selection problem refers to the situation when the project management decision-maker selects a subset of projects from a limited set of alternative projects under the constraints of time, resources, cost, and other constraints and then forms a group that can achieve the desired and optimized organizational goals [1]. Portfolio selection is not only an important link in the process of organizing project management but also a part of strategic decision-making of enterprises.…”

Section: Introductionmentioning

confidence: 99%

Application of Interaction Effect Multichoice Goal Programming in Project Portfolio Analysis

Zhai

Wang

et al. 2021

Mathematical Problems in Engineering

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How to choose the optimal project portfolio based on the enterprise objectives is very important for the survival and development of an enterprise. However, the current portfolio analysis needs to be improved in the aspects of interaction effect analysis, multichoice target planning, and method simplicity and practicability. The method of portfolio selection proposed in this study takes into consideration the complex interaction within the portfolio, which makes up for the deficiency of the existing research on portfolio selection. This paper illustrates the application of the multichoice object programming method in the analysis of the combination of two-project and three-project interaction effects by a series of examples. The results show that the method is applicable in portfolio evaluation. The method of multichoice goal programming of the interaction effect provides the basis for enterprise to measure the complex relationship within the portfolio and also provides a new method and idea for the selection of the enterprise project portfolio.

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“…As selecting portfolios is an inherent part of the decision-making process (Korotkov & Wu, 2020), three different portfolios are computed based on the MV rule, LTEC method and QTEC approach in this section, all applied to the cryptocurrency market. A rolling window approach referring to (10) (11) and ( 12) is applied for asset allocation, where γ = 0.8 for QTEC approach to get a relatively good performance.…”

Section: Portfolio Constructionmentioning

confidence: 99%

Tail Risk Network Effects in the Cryptocurrency Market during the COVID-19 Crisis

Ren¹,

Althof

Härdle

2020

SSRN Journal

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Cryptocurrencies are gaining momentum in investor attention, are about to become a new asset class, and may provide a hedging alternative against the risk of devaluation of fiat currencies following the COVID-19 crisis. In order to provide a thorough understanding of this new asset class, risk indicators need to consider tail risk behaviour and the interdependencies between the cryptocurrencies not only for risk management but also for portfolio optimization. The tail risk network analysis framework proposed in the paper is able to identify individual risk characteristics and capture spillover effect in a network topology. Finally we construct tail event sensitive portfolios and consequently test the performance during an unforeseen COVID-19 pandemic.

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Evaluating the quality of solutions in project portfolio selection

Cited by 21 publications

References 32 publications

Assessment of the Sustainability of a Real Estate Project Using Multi-Criteria Decision Making

Assessment of the Sustainability of a Real Estate Project Using Multi-Criteria Decision Making

Application of Interaction Effect Multichoice Goal Programming in Project Portfolio Analysis

Tail Risk Network Effects in the Cryptocurrency Market during the COVID-19 Crisis

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