A novel project portfolio selection framework: An application of fuzzy DEMATEL and multi-choice goal programming

Authors

School of Industrial Engineering, College of Engineering, University of Tehran, Tehran, Iran.

Abstract

Project portfolio selection is an important problem for having an ecient and e ective project management. This paper proposes a new framework to identify the optimal project portfolio. First, the in uencing criteria are derived with respect to higher priorities from the fuzzy DEMATEL method under the balanced scorecard framework. Afterwards, a utility-based multi-choice goal programming technique is applied to determine the project portfolio in regard to the chosen criteria and some other operational limitations. The synergy amongst projects and the outsourcing option are also taken into account in order to provide a more realistic selection process. Finally, applicability and validity of the proposed integrated model are tested by a case study conducted in a pharmaceutical company.

Keywords


Volume 23, Issue 6 - Serial Number 6
Transactions on Industrial Engineering (E)
December 2016
Pages 2945-2958
  • Receive Date: 24 December 2016
  • Revise Date:
  • Accept Date: 27 July 2017