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Author Country (or Countries)

Mexico

Abstract

Project portfolio selection is one of the most important problems faced by any organization. The decision process involves multiple conflicting criteria, and has been commonly addressed by implementing a two-phase procedure. The first step identifies the efficient solution set; the second step supports the decision maker in selecting only one portfolio solution from the efficient set. However, several recent studies show the advantages gained by optimizing towards a region of interest (according to the decision maker’s preferences) instead of approximating the complete Pareto set. However, these works have not faced synergism and its variants, such as cannibalization and redundancy. In this paper we introduce a new approach called Non-Outranked Ant Colony Optimization, which optimizes interdependent project portfolios with a priori articulation of decision-maker preferences based on an outranking model. Several experimental tests show the advantages of our proposal over the two-phase approach, providing reasonable evidence of its potential for solving real-world high-scale problems with many objectives.

Suggested Reviewers

N/A

Digital Object Identifier (DOI)

http://dx.doi.org/10.12785/amis/080405

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