A hybrid grey based Kohonen model and biogeography-based optimization for project portfolio selection
Summary: The problem of selection and the best option are the main subject of operation research science in decision-making theory. Selection is a process that scrutinizes and investigates several quantitative and qualitative, and most often incompatible, factors. One of the most fundamental management issues in multicriteria selection literature is the multicriteria adoption of the projects portfolio. In such decision-making condition, manager is seeking for the best combination to build up a portfolio among the existing projects. In the present paper, KOHONEN algorithm was first employed to build up a portfolio of the projects. Next, each portfolio was evaluated using grey relational analysis (GRA) and then scheduled risk of the project was predicted using Mamdani fuzzy inference method. Finally, the multiobjective biogeography-based optimization algorithm was utilized for drawing risk and rank Pareto analysis. A case study is used concurrently to show the efficiency of the proposed model.
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- Application of genetic and differential evolution algorithms on selecting portfolios of projects with consideration of interactions and budgetary segmentation
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- Application of gray systems and fuzzy sets in combination with real options theory in project portfolio management
- Application of genetic and differential evolution algorithms on selecting portfolios of projects with consideration of interactions and budgetary segmentation
- A mathematical modeling approach for high and new technology-project portfolio selection under uncertain environments
- New method of selecting efficient project portfolios in the presence of hybrid uncertainty
- Hybrid multi-population genetic algorithm for multi criteria project selection
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