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Prioritization of project proposals in portfolio management using fuzzy AHP

Author

Listed:
  • Kajal Chatterjee

    (National Institute of Technology)

  • Sheikh Ahmed Hossain

    (Brahmananda Keshab Chandra College)

  • Samarjit Kar

    (National Institute of Technology)

Abstract

Strategies in project assortment and prioritization directly influence organizational production and cost-effectiveness. Due to dearth of funding and nominal technology with improper judgments of expert’s, selection of optimal project portfolio can be viewed as a risk based decision making problem considering various risk factors. Recently, fuzzy set theory is applied for modeling real world problems due to failure of traditional models in uncertain environments. This paper deals with project proposal prioritization from a set of project portfolio satisfying a set of criteria evaluated by decision makers. The analytic hierarchy process is applied in fuzzy environment to help the management of any project based company to prioritize in terms of investment. In the decision approach, expert team decides whether to accept or reject a project as per set of criteria and sub-criteria based on diverse project risk levels. A hierarchy among the different projects based on ratings clearly prioritize the projects among the suggested proposals.

Suggested Citation

  • Kajal Chatterjee & Sheikh Ahmed Hossain & Samarjit Kar, 2018. "Prioritization of project proposals in portfolio management using fuzzy AHP," OPSEARCH, Springer;Operational Research Society of India, vol. 55(2), pages 478-501, June.
    • Handle: RePEc:spr:opsear:v:55:y:2018:i:2:d:10.1007_s12597-018-0331-3
    DOI: 10.1007/s12597-018-0331-3
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    2. Kosztyán, Zsolt T. & Jakab, Róbert & Novák, Gergely & Hegedűs, Csaba, 2020. "Survive IT! Survival analysis of IT project planning approaches," Operations Research Perspectives, Elsevier, vol. 7(C).
    3. Yakup Çelikbilek & Sarbast Moslem, 2023. "A grey multi criteria decision making application for analyzing the essential reasons of recurrent lane change," OPSEARCH, Springer;Operational Research Society of India, vol. 60(2), pages 916-941, June.
    4. P. Kumar & Jyotirmayee Behera & A. K. Bhurjee, 2022. "Solving mean-VaR portfolio selection model with interval-typed random parameter using interval analysis," OPSEARCH, Springer;Operational Research Society of India, vol. 59(1), pages 41-77, March.
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    6. Sanjay Kumar Tyagi & Sujeet Kumar Sharma & R. Krishankumar & K. S. Ravichandran, 2022. "An extension of interpretive structural modeling using linguistic term sets for business decision-making," OPSEARCH, Springer;Operational Research Society of India, vol. 59(3), pages 1158-1177, September.

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