Authors : Tahere Heydari, Seyed-Mohammad Seyed Hosseini and Ahmad Makui
Abstract: Because of limited resources, organizations, often have to make crucial decisions regarding selection and scheduling of a project portfolio among the candidate projects. A poor decision might affect the organization in two ways: first, by wasting the organization’s resources (monetary cost), investing them in weak and non-strategic projects and second, by losing the opportunity to invest the resources in more profitable projects (opportunity cost). Hence, selecting a rich portfolio has been always an important role of project managers. In portfolio selection, the impact of one project selection on another projects selection is not studied widely. In this research the project portfolio selection was studied from a system perspective. In a system perspective, as a result of interactions between the components in the system, the whole is not necessarily equal to the sum of its parts. In this study, the project portfolio selection and scheduling are integrated in one model and formulated as a bi-objective non-linear problem. A goal programming technique is proposed to solve this model and find the optimal portfolio together with the scheduling of selected projects. Some limitations such as budget, resources and scheduling constraints have been considered in this case also the projects may have strengthening and weakening effects on the profit, risk and costs of other projects that is considered in this study.
Tahere Heydari, Seyed-Mohammad Seyed Hosseini and Ahmad Makui, 2016. Developing and Solving an One-Zero Non-Linear Goal Programming Model to R and D Portfolio Project Selection with Interactions Between Projects. International Business Management, 10: 4516-4521.