Multicriteria optimization of interdependent project portfolios with ‘a priori’ incorporation of decision maker preferences

DOI

10.2991/.2013.21How to use a DOI?

Keywords

portfolio selection, interdependent projects, multicriteria optimization, preferences incorporation

Abstract

One of the most important management issues lies in determining the best portfolio of a given set of investment proposals. This decision involves the pursuit of multiple criteria, and has been commonly addressed by implementing a two-phase procedure whose first step identifies the efficient solution space. In this paper we introduce our algorithm called Non-Outranked Ant Colony Optimization (NO-ACO) that optimizes portfolios with interprojects interactions whilst takes into account the DM’s preferences by incorporating a priori preferences articulation. Experimental tests show the advantages of our proposal over the two-phase approach. Also, NO-ACO performed particularly well for problems with high dimensionality.

Copyright

© 2013, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Laura Cruz
AU  - Eduardo R. Fernandez
AU  - Claudia G. Gomez
AU  - Gilberto Rivera
PY  - 2013/10
DA  - 2013/10
TI  - Multicriteria optimization of interdependent project portfolios with ‘a priori’ incorporation of decision maker preferences
BT  - Proceedings of the Fourth International Workshop on Knowledge Discovery, Knowledge Management and Decision Support
PB  - Atlantis Press
SP  - 169
EP  - 178
SN  - 1951-6851
UR  - https://doi.org/10.2991/.2013.21
DO  - 10.2991/.2013.21
ID  - Cruz2013/10
ER  -