Identification and selection of Six Sigma projects are one of the most frequently discussed issues in the Six Sigma literatures today. In this paper a two-stage methodology has been proposed based on (i) Real Option Analysis for evaluating the value of the project to improve the managerial flexibility (ii) a zero–one integer linear programming model for selecting and scheduling an optimal proje...

Project portfolio selection problems are inherently complex problems with multiple and often conflicting objectives. Numerous analytical techniques ranging from simple weighted scoring to complex mathematical programming approaches have been proposed to solve these problems with precise data. However, the project data in real-world problems are often imprecise or ambiguous. We propose a fuzzy M...

projects execution is an important way to implement organizational strategies, especially in the project-based organizations. in such organizations, the decision-makers usually encounter a problem of the project portfolio selection. of course, regarding the decision-makers’ risk attitude, they tend to direct organizational resources toward projects with low threats and high opportunities. this ...

Public and private organizations continuously invest on projects. With a number of candidate projects bigger than those ones that can be funded, the organization faces the problem of selecting a portfolio of projects that maximizes the expected benefits. The selection is made on the evaluation of project groups and not on the evaluation of single projects. However, there is a factor that must b...

We present a portfolio selection methodology that responds to three major goals that most R&D organizations are concerned with – effectiveness, efficiency, and balance. The methodology uses a strategy-oriented, multi-criterion, evaluation model that integrates concepts from data envelopment analysis (DEA) and balanced scorecard (BSC). It is based on two subsequent phases. At the first phase ind...

This paper addresses the problem of market risk management for a company in the electricity industry. When dealing with corporate volumetric exposure, there is a need for a methodology that helps to manage the aggregate risks in energy markets. The originality of the approach presented lies in the use of intervals to formulate a specific portfolio optimization problem under stochastic dominance...