Project Selection using Decision Support & Optimization Techniques

This post is an excerpt (with slight modifications) of a recent paper titled “Project Selection using Decision Support Optimization Tools.” If you’d like to read the full paper, click here for the PDF version of Project Selection using Decision Support Optimization Tools.  The full version of the paper has full details of the LINGO model used for decision support and project selection optimization.

During good times and bad, selecting the proper projects to undertake is an extremely important activity for organizations.  Selecting the right projects  (or wrong ones) can be the difference between success and failure for most organizations.  The process of selecting projects and managing the project portfolio, formally called Project Portfolio Management, can help organizations get a grasp on their projects and the risk & benefits associated with those projects [1].

Project Portfolio management and selection has become an important part of most organization’s project management activities. By managing their project portfolio’s correctly, organizations can gather information about all projects, prioritize those projects and manage the selected projects throughout the project lifecycle.

The remainder of this paper provides an overview on project selection and describes a prototype system that can be used to optimize the selection of projects.  The project selection prototype uses optimization techniques to select the optimal number of projects based on given criteria.

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Improving Knowledge in Projects

This post is an excerpt of a recent paper titled “Improving Knowledge in Projects.” If you’d like to read the full paper, click here for the PDF version of Improving Knowledge in Projects. In the project management world, a considerable amount of research exists to describe the reasons behind the success or failure of projects … Read more Improving Knowledge in Projects

Article Review on Knowledge Management

One of my assignments in my Knowledge Management Class had me read and review am article using PowerPoint. I’ve just submitted the assignment and wanted to provide a link to my readers to take a look at the presentation and provide some feedback. The article reviewed is: Slaughter, S. A., & Kirsch, L. J. (2006). … Read more Article Review on Knowledge Management

IT Human Capital as Competitive Advantage

This is an excerpt of a paper I’ve just completed titled “Information Technology Human Capital as Competitive Advantage”. I’ve provided a brief intro plus the conclusion here. This white paper was the inspiration for the the topics discussed in my previous posts titled “Resource Diversity & Immobility Simplified“, “Competitive Advantage and the Resource Based View … Read more IT Human Capital as Competitive Advantage

Competitive Advantage and the Resource Based View of the Firm

As a follow up to my previous post titled Competitive Advantage – The Human Capital Approach, I wanted to take a second to talk a little bit about the Resource Based View of the firm that I mentioned in the previous post.  Before I continue, if you are interested in this topic, definitely take a … Read more Competitive Advantage and the Resource Based View of the Firm

Competitive Advantage – The Human Capital approach

I was asked recently to describe how an organization can use its human capital to create competitive advantage. I fell into the trap of using Porter’s descriptions and other schemes of describing what it is and how to achieve it and while I was talking I saw eyes glazing over and people losing interest very … Read more Competitive Advantage – The Human Capital approach