Issue: 2013/Vol.23/No.4, Pages 55-74
THREE STEP PROCEDURE FOR A MULTIPLE CRITERIA PROBLEM OF PROJECT PORTFOLIO SCHEDULING
Bogumiła Krzeszowska
Cite as: B. Krzeszowska. Three step procedure for a multiple criteria problem of project portfolio scheduling. Operations Research and Decisions 2013: 23(4), 55-74. DOI 10.5277/ord130405
Abstract
The project portfolio scheduling problem as a multiple criteria decision making problem and a three step procedure to solve this problem have been presnted. In the first step, the problem was described by a multiple criteria mathematical model. Three criteria have been considered: minimization of the sum of penalties for projects delays, minimization of resource overuse and NPV maximization. In the second step, non-dominated solutions were identified by using an elitist evolutionary algorithm for multiple optimization. In the third step, an interactive procedure has been applied to choose the final solution. An example of a portfolio of IT projects was used for computations.
Keywords: project scheduling, multiple criteria analysis
Received: 10 May 2013 Accepted: 10 December 2013