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Modeling and analyzing project interdependencies in project portfolios using an integrated social network analysis-fuzzy TOPSIS MICMAC approach

Author

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  • Helal Zaabi

    (University of Sharjah)

  • Hamdi Bashir

    (University of Sharjah)

Abstract

Despite academics’ and practitioners’ increasing focus on project portfolio management over the last three decades, very few methods and tools have been proposed for modeling and analyzing interdependencies among projects within a portfolio. This paper proposes the use of a novel approach that integrates three techniques: social network analysis (SNA), fuzzy technique for order of preference by similarity to ideal solution (TOPSIS), and cross-impact matrix multiplication applied to classification (MICMAC). Network mapping provides project managers with a holistic view of interdependencies among projects; fuzzy TOPSIS MICMAC and SNA measures are used to classify projects in terms of their driving power and dependence power and out- and in-degree centrality. This categorization offers a helpful tool for project managers to distinguish among projects and classify them based on their interdependency levels, and thus, aids in identifying critical projects. For the demonstration, the approach is applied to model and analyze interdependencies between projects within a real-life portfolio from the industry. The results of this application show that the proposed approach can serve as a viable and practical means of capturing and analyzing interdependencies among projects within a portfolio.

Suggested Citation

  • Helal Zaabi & Hamdi Bashir, 2020. "Modeling and analyzing project interdependencies in project portfolios using an integrated social network analysis-fuzzy TOPSIS MICMAC approach," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 11(6), pages 1083-1106, December.
    • Handle: RePEc:spr:ijsaem:v:11:y:2020:i:6:d:10.1007_s13198-020-00962-3
    DOI: 10.1007/s13198-020-00962-3
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    More about this item

    Keywords

    Projects portfolio management; Project interdependencies; Social network; Visual tools; Fuzzy TOPSIS; Integrated network-fuzzy cross-impact matrix multiplication analysis (MICMAC);
    All these keywords.

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis

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