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Designing a hybrid system dynamic model for analyzing the impact of strategic alignment on project portfolio selection
Ist Teil von
Simulation modelling practice and theory, 2018-12, Vol.89, p.175-194
Ort / Verlag
Elsevier B.V
Erscheinungsjahr
2018
Link zum Volltext
Quelle
Alma/SFX Local Collection
Beschreibungen/Notizen
One of the key challenges in project organizations is the alignment of portfolio management with major corporate strategies. Usually, project-based organizations use shared resources to control and plan the project portfolio. Therefore, the exploitation of shared resources and project planning decisions made in this regard can change the progress of projects and affect the success rate of the projects. In this article, the integration of system dynamics with multi-objective decision making is applied to address project portfolio selection. The project portfolio has been modeled using four basic dimensions including technology, complexity, innovation and time sensitivity. The aim is to plan and control the progress of project portfolio while maximizing the strategic adaptation subject to the changes of the human resources. For this purpose, a two-stage MO-PSO with TOPSIS is proposed for portfolio selection problem that can solve real-world instances of the problem in a reasonable time. The result of the sensitivity analysis indicated that the proposed decision support system (DSS) provides insights into the impact of strategic alignment on project portfolio selection. According to the simulation results, the integrated methodology of this research can assist in choosing the suitable projects to achieve a project's strategic goals following the organization strategy.