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

    Author(s)
    Ghapanchi, Amir Hossein
    Tavana, Madjid
    Khakbaz, Mohammad Hossein
    Low, Graham
    Griffith University Author(s)
    Ghapanchi, Amir Hossein H.
    Year published
    2012
    Metadata
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    Abstract
    Effective project evaluation and selection strategies can directly impact organizational productivity and profitability. Numerous analytical techniques ranging from simple weighted scoring to complex mathematical programming approaches have been proposed to solve these problems. However, traditional project selection methods too often fail to consider both the uncertainties in projects and the interaction among projects. Some prior studies have considered the interaction among projects in deterministic environments. Others have dealt with stochastic environments but have not considered project interdependencies. This study ...
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    Effective project evaluation and selection strategies can directly impact organizational productivity and profitability. Numerous analytical techniques ranging from simple weighted scoring to complex mathematical programming approaches have been proposed to solve these problems. However, traditional project selection methods too often fail to consider both the uncertainties in projects and the interaction among projects. Some prior studies have considered the interaction among projects in deterministic environments. Others have dealt with stochastic environments but have not considered project interdependencies. This study aspires to fill this gap in the project portfolio selection literature. Information system/information technology (IS/IT) projects are used in this study because they are frequently subject to uncertainties due to estimation difficulties and bounded by interactions due to technological interdependencies. We use Data Envelopment Analysis (DEA) to select the best portfolio of IS/IT projects while taking both project uncertainties (modeled as fuzzy variables) and project interactions into consideration simultaneously. We also present a numerical example to demonstrate the applicability of the proposed framework and exhibit the efficacy of the procedures.
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    Journal Title
    International Journal of Project Management
    Volume
    30
    Issue
    7
    DOI
    https://doi.org/10.1016/j.ijproman.2012.01.012
    Subject
    Information Systems Management
    Built Environment and Design
    Commerce, Management, Tourism and Services
    Publication URI
    http://hdl.handle.net/10072/48692
    Collection
    • Journal articles

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