Project Ranking-Based Portfolio Selection Using Evolutionary Multiobjective Optimization of a Vector Proxy Impact Measure
S. Samantha Bastiani, Laura Cruz–Reyes, Eduardo Fernández, Claudia Guadalupe Gomez-Santillan, Victoria Ruíz · 2013
Selecting project portfolios Decision-Maker usually starts with limited information about projects and portfolios.One of the challenges involved in analyzing, searching and selecting the best portfolio is having a method to evaluate the impact of every project and portfolio in order to compare them.This paper develops a model for composing publicoriented project portfolios.Information concerning the quality of the projects is in the form of a project-ranking, which can be obtained by the application of a proper multi-criteria method; however the ranking does not assume an appropriate evaluation.A best portfolio is primarily found through a multi-objective optimization that regards the impact indicators that reflect the quality of the projects in the portfolio and competent portfolios' cardinalities.Overall good solutions are obtained by developing an evolutionary method, which is found to perform well in some test examples.