In decision analysis, difficulties of obtaining complete information about model parameters make it advisable to seek robust solutions that perform reasonably well across the full range of feasible parameter values. In this paper, we develop the Robust Portfolio Modeling (RPM) methodology which extends Preference Programming methods into portfolio problems where a subset of project proposals ar...

This study argues that factors such as the characteristics of the organization, the portfolio of IT projects they are managing and skill composition of their IT workers influence a firm’s outsourcing decision. Using a case study methodology at 10 firms located in the Midwest, we will study organizational and project characteristics as they relate to the sourcing of the development of the projec...

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...

Investment in toll road normally involves a portfolio of real options. We model a portfolio of real options with cost contingency and government subsidy at the operation stage. We demonstrate that the investment value is highly sensitive to cost and revenue uncertainties. Our numerical example suggests that the investment value of risky project is higher when net income guarantee is used instea...

Selection of new projects is one of the major decision making activities in any company. Given a set of potential projects to invest, a subset which matches the company’s strategy and internal resources best has to be selected. In this paper, we propose a multicriteria model for portfolio selection of projects, where we take into consideration that each of the potential projects has several usu...

I am interested in combining and parallelizing multiple search techniques. For my class project, I am combining portfolio-based DPLL SAT solving with Hyperresolution. Specifically, I am building on top of a system started by Erik Zawadzki and myself; I am incorporating our highly parallel DPLL+Resolution code into the relatively untried portfolio-based parallel solver called ManySAT [7], which ...

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...

Recent technological developments associated with changes in customer expectations have required continuous innovation from companies all over the world, thereby driving these companies’ IT portfolios towards increasing complexity and interdependency. Simultaneously, existing methods of IT portfolio management are not able to cope with this interconnectedness of IT projects, and too little rese...

Existing research on Information Systems Development (ISD) contracts focuses on the stakeholder controlling the vendor on a single project. We extend this line of research and make three important contributions. First, we consider the fact that systems development organizations work on a portfolio of projects, and analyze how firms prioritize the effort expended on individual projects relative ...

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...