Research On Theory Frame And Method Of Project Portfolio Selection

Along with the increase of market demand, the development of the information technology and the idea of time based competition, many organizations hope to carry on portfolio of projects at the same time within limited time. However, the development of organization will be influenced greatly or even worse by the fact that the project portfolio can not be selected appropriately or the structure of the project portfolio is unreasonable. Therefore, to make the projects contribute to the enterprise's strategic objective effectively, the selection of project portfolio, which has good match with limited resources, is very important for the practitioners and researchers of project management.This paper mainly consists of 3 parts, i.e. the basic theory of project portfolio selection, the appraisal theory based project portfolio selection, the methodology of project portfolio selection with interactions of projects, by systems engineering theory, operation research theory, rough sets theory and fuzzy mathematics theory.Part one, after the reason and the definition of project portfolio are explained and put forward respectively, the definition of project portfolio selection is given and the existing methods of project portfolio selection are discussed. Then the general theories of project portfolio selection are summarized from the aspects of the mathematics form and the solution procedure, then, on the basis of analyzing the principle of selection model, the procedures of project portfolio selection are put forward; the functions of the strategic project management office in selection model of project portfolio are discussed as well.Part two, based on the introduction and analysis of traditional project appraisal theory the main comprehensive appraisal methods of projects are summarized, by means of Balanced Scorecard, valuation index of the projects is set up. Meanwhils, rough sets fuzzy selection model is proposed. Further more, the practical use of this model are explained by an example. Finally, data envelopment analysis is introduced and improved, model of preferential Interval Date Envelopment Analysis is also proposed.Part three, it firstly discusses and analyzes the influences to the result of project portfolio selection which is influenced by interaction of the alternative projects. And then the interactions of projects are analyzed and divided into 4 types. After that, the solving methods and steps with interactions of projects are put forward. Followingly, 0-1 plan model with quantified interactions of projects is proposed. At last, DEA selection model with interactions of projects in which project portfolios are decision making units is proposed, an example is given.