This paper discusses decision making of project funding allocation under uncertain project costs. Because project costs are uncertain and funding allocations may not necessarily match the costs required, each project is inherently subject to a cost overrun risk (COR). In this paper, a model is proposed in which project cost is treated as a factor with a probability density function. The decisio...

This paper employs fuzzy set theory to solve the unintuitive problem of the Markowitz meanvariance MV portfolio model and extend it to a fuzzy investment portfolio selection model. Our model establishes intervals for expected returns and risk preference, which can take into account investors’ different investment appetite and thus can find the optimal resolution for each interval. In the empiri...

A common problem faced by organizations is how to select and schedule an optimal portfolio of projects subject various constraints, such as a limited budget. This known the project selection scheduling (PPSSP). Despite widespread nature this problem, no existing model adequately addresses sufficient set characteristics that arise in real-world problems. One contribution article proposal novel, ...

The famous mean-variance portfolio selection model introduced by Markowitz in [7] is an important breakthrough in mathematical finance, which deals with uncertainties appearing in financial markets. In real financial market, there may exist two kinds of uncertainties. One is randomness and the other is impreciseness or vagueness. In this paper we study the portfolio selection problem combining ...