2334. Designing of efficient project portfolios
Invited abstract in session MD-7: Extensions of the Resource-Constrained Project Scheduling Problem, stream Scheduling and Project Management.
Monday, 14:30-16:00Room: Clarendon GR.01
Authors (first author is the speaker)
| 1. | Petr Fiala
|
| Dept. of Econometrics, Prague University of Economics and Business |
Abstract
In an accelerating economic world, projects become tools for promoting multiple objectives of the organization. Project portfolio is set of all projects that are implemented in the organization at a time. Projects in the project portfolio are interconnected by priorities, dependences, and organization’s resources utilization. Using sophisticated quantitative tools becomes a significant competitive advantage for project portfolio management. We propose a new approach for project portfolio designing based on a systemic combination of Data Envelopment Analysis (DEA) and De Novo optimization approach. Possible projects are characterized by sets of inputs and outputs, where inputs are resources for project realisation and outputs measure multiple objectives of the organisation The DEA is an appropriate approach to select efficient projects. The organisation has its total resources in limited quantities. It is possible to buy the resources at given prices. A total available budget is a restriction on project portfolio. De Novo optimization is an approach for designing efficient systems by reshaping the feasible set. The proposed combination of DEA a De Novo approaches ensures solving of the efficient project portfolio designing problem. The proposed concept provides designing of optimal project portfolio by given budget. Possible extensions of the problem are formulated and discussed. These extensions include restricted weights, goal restrictions, and time dependent budget.
Keywords
- Data Envelopment Analysis
- Efficiency Analysis
- Multi-Objective Decision Making
Status: accepted
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