Genetic algorithm-based multi-criteria project portfolio selection

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

77 Scopus Citations
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Author(s)

  • Lean Yu
  • Shouyang Wang
  • Fenghua Wen
  • Kin Keung Lai

Related Research Unit(s)

Detail(s)

Original languageEnglish
Pages (from-to)71-86
Journal / PublicationAnnals of Operations Research
Volume197
Issue number1
Publication statusPublished - 2012

Abstract

Project portfolio selection is one of the most important decision-making problems for most organizations in project management and engineering management. Usually project portfolio decisions are very complicated when project interactions in terms of multiple selection criteria and preference information of decision makers (DMs) in terms of the criteria importance are taken into consideration simultaneously. In order to solve this complex decision-making problem, a multi-criteria project portfolio selection problem considering project interactions in terms of multiple selection criteria and DMs' preferences is first formulated. Then a genetic algorithm (GA)-based nonlinear integer programming (NIP) approach is used to solve the multi-criteria project portfolio selection problem. Finally, two illustrative examples are presented for demonstration and verification purposes. Experimental results obtained indicate that the GA-based NIP approach can be used as a feasible and effective solution to multi-criteria project portfolio selection problems. © 2010 Springer Science+Business Media, LLC.

Research Area(s)

  • Genetic algorithm, Multi-criteria decision making, Nonlinear integer programming, Preference, Project interactions, Project portfolio selection

Citation Format(s)

Genetic algorithm-based multi-criteria project portfolio selection. / Yu, Lean; Wang, Shouyang; Wen, Fenghua; Lai, Kin Keung.

In: Annals of Operations Research, Vol. 197, No. 1, 2012, p. 71-86.

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review