PROJECT PORTFOLIO SELECTION BASED ON MULTI-PROJECT SYNERGY
Journal of Industrial and Management Optimization
; 19(1):117-138, 2023.
Article
in English
| Scopus | ID: covidwho-2246249
ABSTRACT
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. © 2023, Journal of Industrial and Management Optimization. All Rights Reserved.
COVID-19; Mergers and acquisitions; Decisions makings; Multi-projects; Multiple projects; Portfolio selection models; Project portfolio selection; Strategic alignment; Strategic alignment utility; Strategic synergy; Uncertainty; Decision making; Decision-making; Portfolio selection model; Project portfolio selection (pps)
Full text:
Available
Collection:
Databases of international organizations
Database:
Scopus
Language:
English
Journal:
Journal of Industrial and Management Optimization
Year:
2023
Document Type:
Article
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