Project selection

International Series in Operations Research & Management Science, 2003

The problem considered in this paper is that of selecting, from a larger set of project proposals, a subset of projects (a portfolio of projects) to be implemented. The set of project proposals is divided into several subsets of equivalent projects. The project proposals within these subsets may present different levels of performance, the cost for their implementation may be different and they may use resources at different levels. It is desired to find a portfolio of projects from the set of competing projects proposals which contains only one project from each subset, meets all the requirements concerning the resources constraints, maximize the performance (benefits) and minimize the risk. In second section we present several approaches to the project selection problem. In the third section we present an original zero-one mathematical programming model for project selection problem under risk and limited resources which represent a version of a previous model from (Radulescu and Radulescu, 2001). Our model includes several resources and experts’ opinions which generate the risk. The project risk is greater if experts’ opinions have a greater degree of dispersion. Several versions of the model are discussed. In the fourth section is presented a decision support system (DSS), which we have named PROSEL (PROject analysis and SELection system) to assist managers in making high quality project portfolio selections.

2016

South African Journal of Industrial Engineering, 2007

A critical part, and sometimes the whole, of any postgraduate programme is the undertaking by the students of a project. One of the most crucial phases in this undertaking is the project selection. It is also this phase where students, invariably, receive no formal training and this could delay the whole undertaking substantially; in some cases leading to premature abandonment of the project or the degree programme altogether. This paper attempts to fill this gap by providing a framework and a methodology that would enable the student to develop a greater comprehension of the problem and to make a rational choice. The framework is based on decision analysis and comprises a two-stage procedure: (a) technical uncertainty and dominance screening and (b) the application of SMART (Simple Multi-Attribute Rating Technique). A hypothetical case is considered to illustrate the methodology and the results are discussed.

Decision Support Systems, 2000

Quality & Quantity, 2011

International Transactions in Operational …, 2010

From a certain simplistic and inaccurate, although regrettably popular, perspective philosophy, at least for the past few decades, is available only in two main flavours – analytic and continental. Some self-identified members of both camps are apt to endorse uncharitable caricatures of what the others are up to. Among the many lines of criticism that can be directed against this false dichotomy, I wish to focus on discussion of a broadly naturalistic orientation that rejects many of the commitments both of paradigmatic analytic philosophy and paradigmatic continental philosophy. For the committed naturalist, the enterprise of philosophy is continuous with that of systematic empirical enquiry into the workings of the world (science). From a naturalistic perspective many of the standard moves of analytic philosophy, such as testing a proposal against ‘intuitions’, are as preposterous as the claims of ‘continental’ and ‘analytic’ philosophers sometimes appear to one another.