A novel R&D project portfolio selection decision approach based on fuzzy logic and heuristics scheduling

Research on R&D project selection has recently focused on multiple criteria modeling of R&D portfolios. These models include mathematical programming models, decision theory models and scoring models. Each of these model types has proven to be effective in a limited sense, but very few address project scheduling in conjunction with other. In this paper, an alternative decision system is presented which uses fuzzy logic within a constrained guided heuristics search scheduling approach to choose an optimal projects portfolio. The methodology is illustrated using an example problem that reflects a realistic R&D problem in terms of problem size, goals, objectives, and constrains.