Many construction companies struggle with multi-project optimization and change despite adhering to normative project portfolio management instructions and best practices. One explanation is that managers lack extensive multi-project management experience from which to apply related theory to practical outcomes. This paper proposes a three-dimensional segmentation framework to guide companies w...

Large software companies have to plan their project portfolio to maximize potential portfolio return and strategic alignment, while balancing various preferences, and considering limited resources. Project portfolio managers need methods and tools to find a good solution for complex project portfolios and multiobjective target criteria efficiently. However, software project portfolios are chall...

Portfolio optimization is one of the most important issues for effective and economic investment. There is plenty of research in the literature addressing this issue. Most of these pieces of research attempt to make the Markowitz’s primary portfolio selection model more realistic or seek to solve the model for obtaining fairly optimum portfolios. An efficient frontier in the ...

in the real world, risk and uncertainty are two natural properties in the implementation of mega projects. most projects fail to achieve the pre-determined objectives due to uncertainty. a linear integer programming optimization model was used in this work to solve a problem in order to choose the most appropriate risk responses for the project risks. a mathematical model, in which work structu...

The complicatedness in conducting software development derives from the probabilistic assessment of future conditions or unclear requirements and project implications. Information technology project portfolio management is more complex and presents program managers with the challenge of dynamic decision-making in the context of target revisions and project selection (continuation of active proj...

High nutrient loads, which damage ecological assets, are a widespread problem for many Australian river catchments. These negative effects can be mitigated by land use changes and/or intervention measures such as the construction of artificial wetlands and water treatment plants. Usually budget constraints limit the number of measures that can be implemented by the catchment management authorit...

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...

 Ambiguity in the inputs of the models is typical especially in portfolio selection problem where the true distribution of random variables is usually unknown. Here we use robust optimization approach to address the ambiguity in conditional-value-at-risk minimization model. We obtain explicit models of the robust conditional-value-at-risk minimization for polyhedral and correlated polyhedral am...