Mathematical model of optimal project portfolio forming based on random factors

Korkhina, I. A.

doi:10.15802/stp2014/23787

STP

2014

DOI: 10.15802/stp2014/23787

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Mathematical model of optimal project portfolio forming based on random factors

I. A. Korkhina¹

Abstract: Наука та прогрес транспорту. Вісник Дніпропетровського національного університету залізничного транспорту, 2014, № 2 (50) МОДЕЛЮВАННЯ ЗАДАЧ ТРАНСПОРТУ ТА ЕКОНОМІКИ © И. А. Корхина, 2014 Наука та прогрес транспорту. Вісник Дніпропетровського національного університету залізничного транспорту, 2014, № 2 (50) МОДЕЛЮВАННЯ ЗАДАЧ ТРАНСПОРТУ ТА ЕКОНОМІКИ © И. А. Корхина, 2014 to take into account the uncertainty in the input data, which will increase the reliability of the portfolio effectiveness estimation through t… Show more

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Analysis on the Usage of Decision-Making Methods in Project Management

Трифонов

Korkhina

2017

STP

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Purpose. The scientific paper is aimed: 1) to analyze the existing decision-making methods; 2) to characterize each type of the methods that have practical application in the project management theory; 3) to divide the presented methods into the sense groups; 4) to determine which of these groups should be used for decision-making in project management in three cases: a) when the object is a project; b) when the object is a program; c) when the object is a project portfolio. Methodology. It was carried out a comparative analysis of the existing decision-making methods, as well as it was studied the possibility of their use for different controlled objects of project manager. Findings. As a result of the analysis all of the methods have been divided into two categories: formal and logical-intuitive (informal) ones. It was determined which methods are equally appropriate to apply for all controlled objects of project manager, and which methods will not be effective for a particular object. The analysis showed that some of the decision-making methods are not suitable for use in the management of the certain object. It is concluded that they should be improved and adapted to the specific object of management. Originality. Solution of the problem of decision-making in project management was further developed, as well as it was analyzed the application of different decision-making methods for three controlled objects: project, program and portfolio. Practical value. Decision-making in project management has a direct influence on the result, which is expected to receive. The quality of decisions, in turn, depends on the correct method chosen in the given circumstances. The recommended improvement of certain methods will allow the project manager to make better and more efficient solution.

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Analysis on the Usage of Decision-Making Methods in Project Management

Трифонов

Korkhina

2017

STP

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Formation of an optimal portfolio of venture projects

Korkhina¹,

Petrenko²,

Khomenko³

et al. 2021

Nauk. visn. nat. hirn. univ.

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Purpose. Development of a method for forming an optimal portfolio of venture projects taking into account risks, uncertainty in initial data and limited financial resources. Methodology. To calculate the accuracy of forecasting prices, which are necessary for calculating the parameters of the stochastic optimization model for the formation of a portfolio of projects, we used the theory of random variables and regression analysis. The problem of choosing the optimal portfolio of venture projects was solved using stochastic mathematical programming. Findings. A model for creating an optimal portfolio of venture projects has been developed. It is a stochastic mathematical programming model that can be used to solve problems of investing in venture projects in the extractive industry. This model takes into account the risks associated with obtaining the expected income from the implementation of each venture project, the uncertainty in the initial data for calculating the income from the projects selected in the portfolio, as well as the limited funds required to finance the project portfolio. Originality. The stochastic optimization model for the formation of an optimal portfolio of projects, taking into account the peculiarities of venture projects, in particular, their high riskiness, has been significantly improved and adapted. Practical value. The proposed model for the formation of an optimal portfolio of venture projects can be used at mining enterprises, whose development strategy involves the implementation of innovative, high-risk projects. The use of this model in strategic planning will allow an enterprise to receive the maximum income from venture projects in the face of a lack of financial resources, as well as instability of the innovation market.

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Mathematical model of optimal project portfolio forming based on random factors

Cited by 2 publications

References 2 publications

Analysis on the Usage of Decision-Making Methods in Project Management

Analysis on the Usage of Decision-Making Methods in Project Management

Formation of an optimal portfolio of venture projects

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