This paper presents a new model for project portfolio selection, paying specific attention to competence development. The model seeks to maximize a weighted average of economic gains from projects and strategic gains from the increment of desirable competencies. As a sub-problem, scheduling and staff assignment for a candidate set of selected projects must also be optimized. We provide a nonlin...

A decision support system (DSS) is developed to help managers select the most appropriate sequences of plans for product research and development (R&D) projects that have strict constraints on budget, time, and resources. The primary objective of the DSS is to provide an optimal combination of R&D projects. The DSS consists of several subsystems, each of which has a specific function. At the co...

This paper discusses how to introduce liquidity into the well known mean-variance framework of portfolio selection using a representative sample of Spanish equity portfolios. Either by estimating mean-variance liquidity constrained frontiers or directly estimating optimal portfolios for alternative levels of risk aversion and preference for liquidity, we obtain strong effects of liquidity on op...

Organizations must take decisions on how to allocate resources to `go/nogo' projects to maximize the value of their project portfolio. Often these decisions are complicated by several value criteria, multiple resource types and exogenous uncertainties that in uence the projects' values. Especially when the number of projects is large, the e ciency of the resource allocation and the quality of t...

In the science of operation research and decision theory, selection is the most important process. Selection is a process that studies multiple qualitative and quantitative criteria, related to the science of management, which are mostly incompatible with each other. The multi criteria selection of a renewable energy portfolio is one of the main issues considered in multi criteria literatur...