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A Multicriteria Decision Support System For Competence-Driven Project Portfolio Selection

Author

Listed:
  • CHRISTIAN STUMMER

    (Department of Business Administration, University of Vienna, Bruenner Str. 72, A-1210 Vienna, Austria)

  • ELMAR KIESLING

    (Department of Business Administration, University of Vienna, Bruenner Str. 72, A-1210 Vienna, Austria)

  • WALTER J. GUTJAHR

    (Department of Statistics and Decision Support Systems, University of Vienna, Universitaetsstr. 5/3, A-1010 Vienna, Austria)

Abstract

The systematic and proactive development of human resources is of major importance in organizations that rely heavily on the competencies of their employees when engaging in innovative endeavors. Human capital, however, is not only a resource required for conducting research, but also the eventual result of that research. When selecting a research portfolio, the decision-maker (DM) thus needs to take into consideration both current and future competence requirements, as well as other financial and nonfinancial objectives and constraints. We introduce a proper multicriteria decision support system (MCDSS) that first determines the set of Pareto-efficient solutions and then allows the DM to interactively filter and/or explore this set in various ways. Its practical application is demonstrated by means of a showcase at the Electronic Commerce Competence Center (EC3) in Vienna, Austria.

Suggested Citation

  • Christian Stummer & Elmar Kiesling & Walter J. Gutjahr, 2009. "A Multicriteria Decision Support System For Competence-Driven Project Portfolio Selection," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 8(02), pages 379-401.
    • Handle: RePEc:wsi:ijitdm:v:08:y:2009:i:02:n:s0219622009003429
    DOI: 10.1142/S0219622009003429
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    References listed on IDEAS

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    1. Gutjahr, Walter J. & Katzensteiner, Stefan & Reiter, Peter & Stummer, Christian & Denk, Michaela, 2010. "Multi-objective decision analysis for competence-oriented project portfolio selection," European Journal of Operational Research, Elsevier, vol. 205(3), pages 670-679, September.
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    Cited by:

    1. Andreja Abina & Tanja Batkovič & Bojan Cestnik & Adem Kikaj & Rebeka Kovačič Lukman & Maja Kurbus & Aleksander Zidanšek, 2022. "Decision Support Concept for Improvement of Sustainability-Related Competences," Sustainability, MDPI, vol. 14(14), pages 1-21, July.
    2. Elmar Kiesling & Andreas Ekelhart & Bernhard Grill & Christine Strauss & Christian Stummer, 2016. "Selecting security control portfolios: a multi-objective simulation-optimization approach," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 4(1), pages 85-117, June.
    3. Wang, Xiong & Ferreira, Fernando A.F. & Chang, Ching-Ter, 2022. "Multi-objective competency-based approach to project scheduling and staff assignment: Case study of an internal audit project," Socio-Economic Planning Sciences, Elsevier, vol. 81(C).
    4. Gwo-Hshiung Tzeng & Chi-Yo Huang, 2012. "Combined DEMATEL technique with hybrid MCDM methods for creating the aspired intelligent global manufacturing & logistics systems," Annals of Operations Research, Springer, vol. 197(1), pages 159-190, August.
    5. Salo, Ahti & Doumpos, Michalis & Liesiö, Juuso & Zopounidis, Constantin, 2024. "Fifty years of portfolio optimization," European Journal of Operational Research, Elsevier, vol. 318(1), pages 1-18.
    6. Lean Yu & Shouyang Wang & Fenghua Wen & Kin Lai, 2012. "Genetic algorithm-based multi-criteria project portfolio selection," Annals of Operations Research, Springer, vol. 197(1), pages 71-86, August.
    7. Karl F. Doerner & Vittorio Maniezzo, 2018. "Metaheuristic search techniques for multi-objective and stochastic problems: a history of the inventions of Walter J. Gutjahr in the past 22 years," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 26(2), pages 331-356, June.

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