Multicriteria portfolio decision analysis for project selection
Morton, Alec and Keisler, Jeffrey M. and Salo, Ahti; Greco, S and Ehrgott, M and Figueira, J R, eds. (2016) Multicriteria portfolio decision analysis for project selection. In: Multiple Criteria Decision Analysis. International Series in Operations Research & Management Science, 233 (2). Springer, New York, pp. 1269-1298. ISBN 9781493979851 (https://doi.org/10.1007/978-1-4939-3094-4)
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Abstract
Multicriteria Portfolio Analysis spans several methods which typically employ build on MCDA to guide the selection of a subset (i.e.,portfolio) of available objects, with the aim of maximising the performance of the resulting portfolio with regard to multiple criteria, subject to the requirement that the selected portfolio does not consume of resources consumed by the portfolio does not exceed the availability of resources and, moreover, satisfies other relevant constraints as well. In this chapter, we present a formal model of this selection problem and describe how this model can present both challenges (e.g. portfolio value may, due to the interactions of elements, depend on project-level decisions in complex and non-additive ways) and opportunities (e.g.triage rules can be used to focus elicitation on projects which are critical) for value assessment. We also survey the application of Portfolio Decision Analysis in several domains, such as allocation of R&D expenditure, military procurement, prioritisation of healthcare projects, and environment and energy planning, and conclude by outlining possible future research directions.
ORCID iDs
Morton, Alec ORCID: https://orcid.org/0000-0003-3803-8517, Keisler, Jeffrey M. and Salo, Ahti; Greco, S, Ehrgott, M and Figueira, J R-
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Item type: Book Section ID code: 55732 Dates: DateEvent21 March 2016PublishedSubjects: Social Sciences > Industries. Land use. Labor > Management. Industrial Management Department: Strathclyde Business School > Management Science Depositing user: Pure Administrator Date deposited: 02 Mar 2016 09:39 Last modified: 20 Sep 2024 00:26 URI: https://strathprints.strath.ac.uk/id/eprint/55732