Search based risk mitigation planning in project portfolio management

Xiao, Junchao; Osterweil, Leon J.; Chen, Jie; Wang, Qing; Li, Mingshu

doi:10.1145/2486046.2486073

Cited by 7 publications

(8 citation statements)

References 8 publications

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“…However, the proposed approach has not been empirically validated. Xiao et al (2013) presented a search-based risk mitigation planning method based on GA for project portfolio management. Their results showed that with various risk mitigation actions and project objective settings, different plans can be effectively obtained, thus providing decision support for managers.…”

Section: Risk Based Approachesmentioning

confidence: 99%

“…As an example, effective resource scheduling is complicated by different disruptions, such as requirements changes, bug fixing, or staff turnover, and dynamic resource scheduling can help to address such potentially disruptive events (Xiao et al 2013). If solutions can be computed in real time and presented to the decision maker in an intuitive form, then the decision maker can ask on-the-fly 'what if' questions to help decide on key project commitments.…”

Section: Dynamic Adaptive Optimisationmentioning

confidence: 99%

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Search-Based Software Project Management

Ferrucci

Harman

Sarro

2014

Software Project Management in a Changing World

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Abstract. Project management presents the manager with a complex set of related optimisation problems. Decisions made can more profoundly affect the outcome of a project than any other activity. In the chapter, we provide an overview of Search-Based Software Project Management, in which Search-Based Software Engineering (SBSE) is applied to problems in software project management. We show how SBSE has been used to attack the problems of staffing, scheduling, risk, and effort estimation. SBSE can help to solve the optimisation problems the manager faces, but it can also yield insight. SBSE therefore provides both decision making and decision support. We provide a comprehensive survey of Search-Based Software Project Management, and give directions for the development of this subfield of SBSE. IntroductionSoftware Project Management includes several activities critical for the success of a project (e.g., cost estimation, project planning, quality management). These activities often involve finding a suitable balance between competing and potentially conflicting goals. For example, planning a project schedule requires to minimise the project duration and the project cost, and to maximise the product quality. Many of these problems are essentially optimization questions characterised by competing goals/constraints and with a bewilderingly large set of possible choices. So finding good solutions can be hard.Search-Based Software Engineering seeks to reformulate software engineering problems as search-based optimisation problems and applies a variety of metaheuristics based on local and global search to solve them (such as Hill Climbing, Tabu Search, and Genetic Algorithms). These meta-heuristics search for a suitable solution in a typically large input space guided by a fitness function that expresses the goals and leads the exploration into potentially promising areas of the search space.Though the term Search-Based Software Engineering (SBSE) was coined by Harman and Jones in 2001 to cover the application of computational search and optimisation across the wide spectrum of software engineering activities (Harman and Jones 2001), there were already pockets of activity on several specific software engineering problems prior to the introduction of the term SBSE. One such topic was Search-Based Software Project Management, the topic of this chapter. In particular, there was work on search-based project scheduling and staffing by

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Section: Risk Based Approachesmentioning

confidence: 99%

Section: Dynamic Adaptive Optimisationmentioning

confidence: 99%

Search-Based Software Project Management

Ferrucci

Harman

Sarro

2014

Software Project Management in a Changing World

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“…He maintained that risk mitigation provides a structural method to conduct risk investigation and make sure that there is less redundancy in IT governance. Besides, Xiao et al (2013) pointed out that risk mitigation emphasizes on taking action early in IT project to prevent the occurrence of undesired events or to reduce the consequences of their occurrence. These mitigation actions helps project managers to appropriately planned and such plans mitigation plans include estimating and planning the schedule, resources and funding for mitigation in optimization of project cost and schedule.…”

Section: Risk Mitigation In It Governancementioning

confidence: 99%

“…Risk mitigation mainly involves transferring, avoiding, controlling and even accepting risk. According to Xiao et al (2013), risk mitigation focuses primarily on actions for estimating and planning the schedule, resources and funding.…”

Section: Introductionmentioning

confidence: 99%

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A Review on Risk Mitigation of IT Governance

Pa¹,

Anthony²,

Nor³

et al. 2014

Information Technology J.

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A B S T R A C T Risk Mitigation (RM) is one of the important activities in risk management of IT governance. In IT governance project, IT risk mitigation emphasizes taking action early in a project to prevent the occurrence of undesired events or to reduce the consequences of their occurrence. The essential of RM in IT governance enables enterprise achieving "the new business changes, reduces IT project risks and future investment in IT governance projects. To get clear understanding in regards risk mitigation based on IT governance context, many relevant studies have been reviewed from different issues and aspects. The purpose of this study is to investigate related RM frameworks, models, processes, stakeholder involves and other issues based on a Systematic Literature Review (SLR) approach. This study presents the results of the systematic literature reviews on an evident of the RM in IT governance and it issues that need to be catered in the future. The finding of this review indicates that RM requires appropriate consideration to systematically reviewed on it numerous limitations, issues and current implementation.

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