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Construction of project portfolio considering efficiency, strategic effectiveness, balance and project interdependencies

Author

Listed:
  • Baris Canbaz
  • Franck Marle

Abstract

This paper aims at providing project office managers or portfolio-level decision-makers with an integrated methodology to guide the portfolio selection process. The issue is to define a selection algorithm which is simultaneously built on a sound theory and remains practically manageable. The originality is to integrate project interdependencies at different levels, both in the objective function (both inputs and outputs) and in the definition of new constraints that ensure the portfolio balance and effectiveness. The portfolio construction problem is formalised and resolved with constraint satisfaction problem techniques. We show on a numerical fictitious example that results are significantly different considering or not project interdependencies. Some portfolios may be declared unfeasible and excluded from decision alternatives, and key values, like global revenue, may drastically change because of synergies or cannibalisations between projects. Our approach improves the performance of portfolios and increases the accuracy forecast between the expected outcomes and the actual ones, since interdependencies are modelled in a way which is closer from reality.

Suggested Citation

  • Baris Canbaz & Franck Marle, 2016. "Construction of project portfolio considering efficiency, strategic effectiveness, balance and project interdependencies," International Journal of Project Organisation and Management, Inderscience Enterprises Ltd, vol. 8(2), pages 103-126.
    • Handle: RePEc:ids:ijpoma:v:8:y:2016:i:2:p:103-126
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    Citations

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    Cited by:

    1. Foroogh Ghasemi & Mohammad Hossein Mahmoudi Sari & Vahidreza Yousefi & Reza Falsafi & Jolanta Tamošaitienė, 2018. "Project Portfolio Risk Identification and Analysis, Considering Project Risk Interactions and Using Bayesian Networks," Sustainability, MDPI, vol. 10(5), pages 1-23, May.
    2. Fahime Lotfian Delouyi & Seyed Hassan Ghodsypour & Maryam Ashrafi, 2021. "Dynamic Portfolio Selection in Gas Transmission Projects Considering Sustainable Strategic Alignment and Project Interdependencies through Value Analysis," Sustainability, MDPI, vol. 13(10), pages 1-25, May.
    3. Olale Jared Ogendo & Dr. Caleb Kirui, 2021. "Influence of Technical Expertise on Implementing Community Policing Programs in Nairobi City County, Kenya," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(5), pages 491-495, May.

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