Application of system dynamics in project portfolio management

The Project Portfolio Management Problem

We consider the Project Portfolio Management Problem (PPMP) in which a limited resource must be allocated among a set of candidate projects over time so as to maximize expected net present value. We formulate this problem as a dynamic program but conclude that this approach is too computationally complex to be of value in supporting real-world project management. So, we investigate the structur...

A Systems Dynamics Model for Project Management systems of Project-Based Organization

It is obvious that the success of a project-based organization is dependent on its projects. A variety of tools such as the project excellence model, project management maturity models, the earned value method, have been developed in this regard, but there are still delays in projects because the projects have dynamic nature with non-linear relationships and feedback processes during the projec...

An Agent Based Information System for Project Portfolio Management

With the increase in globalization, integration of world markets, and rise in the concept of transnational corporations, the importance of project management has increased many folds. An efficient project management helps new enterprises to achieve competitiveness, speed of response, and closeness to customer demands by improving their flexibility and agility, while maintaining their productivi...

Asymmetric Correlation in IT Project Portfolio Management

Investigating Determinants of Project Portfolio Management Adoption

Recently, there has been an emphasis on managing projects strategically within the organization using project portfolio management (PPM). However, the extent of adoption of this innovation and the enabling factors are not well understood in academics and practice. This research-inprogress investigates a model of PPM adoption using data being collected from project managers. The model identifies...