Project Portfolio Selection Considering Uncertainty: Stochastic Dominance-Based Fuzzy Ranking
| Autor: | Jianming Shi, Liang-Chuan Wu, Yang Tai Chou, Liang Hong Wu |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Operations research
Computer science Process (engineering) Stochastic dominance Computational intelligence 02 engineering and technology Expected value Fuzzy logic Theoretical Computer Science Computational Theory and Mathematics Artificial Intelligence Value (economics) 0202 electrical engineering electronic engineering information engineering 020201 artificial intelligence & image processing Project portfolio management Software Selection (genetic algorithm) |
| Zdroj: | International Journal of Fuzzy Systems. 23:2048-2066 |
| ISSN: | 2199-3211 1562-2479 |
| DOI: | 10.1007/s40815-021-01069-y |
| Popis: | This paper proposes a method for project selection based on stochastic dominance (SD) and fuzzy theory. Using fuzzy theory and stochastic dominance, the method is tested using data from real-world projects. The findings show the importance of the proposed methodology improved existing methods in two ways: (1) This research alleviates the subjective bias in risk assessment in estimating the expected value hidden in the project portfolio (2) Adding the stochastic dominance rule to the fuzzy ranking process contributes to efficiency in project portfolio selection. The study contributes to the literature by exploring the combination of both fuzzy theory and stochastic dominance. For practitioner significance, managers can identify key uncertainty factors and estimate value in managing project portfolios. |
| Databáze: | OpenAIRE |
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