A multicriteria approach to project portfolio selection: Using multiobjective optimization and Analytic Hierarchy Process

Author

Gomede, Everton ; Miranda de Barros, Rodolfo

Author_Institution

Dept. de Comput., Univ. Estadual de Londrina, Londrina, Brazil

fYear

2014

fDate

18-21 June 2014

Firstpage

1

Lastpage

7

Abstract

This paper presents an approach to solve the problem of project portfolio selection (PSPP) in the presence of limited resources, multiple criteria, different types of projects, constraints, functions to be optimized, interdependent projects, and scenarios with a large number of projects available. For this purpose, it is divided into two stages, one for (i) optimization using the multiobjective algorithm NSGA-II and another (ii) post-optimization using the Analytic Hierarchy Process (AHP). Among their contributions, we can name (i) a solution to the combinatorial analysis 2ⁿ and (ii) the structure of a hierarchy of criteria derived from subjective aspects.

Keywords

analytic hierarchy process; combinatorial mathematics; genetic algorithms; investment; operations research; project management; AHP; PSPP; analytic hierarchy process; combinatorial analysis; criteria hierarchy structure; multicriteria approach; multiobjective NSGA-II algorithm; multiobjective optimization; postoptimization; project portfolio selection problem; subjective aspects; Abstracts; Algorithm design and analysis; Analytic hierarchy process; Laser radar; Optimization; Portfolios; Project management; NGSA-II; analytic hierarchy process; project management; project portfolio selection;

fLanguage

English

Publisher

ieee

Conference_Titel

Information Systems and Technologies (CISTI), 2014 9th Iberian Conference on

Conference_Location

Barcelona

Type

conf

DOI

10.1109/CISTI.2014.6876928

Filename

6876928