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Journal of Industrial & Management Optimization
Article . 2023 . Peer-reviewed
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zbMATH Open
Article . 2023
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Project portfolio selection based on multi-project synergy

Authors: Wang, Zonghan; Esangbedo, Moses Olabhele; Bai, Sijun;

Project portfolio selection based on multi-project synergy

Abstract

<p style='text-indent:20px;'>To date, the selection of a project portfolio that maximises the decision-making outcome remains essential. However, existing research on project synergy has mainly focused on two projects, while there are multiple projects in some cases. Two kinds of synergies among multiple projects are proposed. First, multiple projects must be selected together, in order to produce synergy. Second, some projects depend on synergy with other projects, leading to a synergetic increase in performance. Furthermore, we present strategic synergy, with benefits, resources, and technology, which is quantified for a procurement project concerning a COVID-19 pandemic recovery plan. A design structure matrix is used to describe the technology diffusion among the projects. Then, strategic alignment is utilised to measure the strategic contribution of projects. Next, a portfolio selection model considering uncertainty is established, based on the strategic utility. Finally, our results indicate that selecting projects considering multi-project synergy is more advantageous.</p>

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Keywords

strategic synergy, Management decision making, including multiple objectives, strategic alignment utility, project portfolio selection (PPS), Fuzzy and other nonstochastic uncertainty mathematical programming, decision-making, portfolio selection model, uncertainty

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    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
8
Top 10%
Average
Top 10%
gold