Study On Benefit-Oriented Project Portfolio Selection Taking Synergistic Relationships Into Considerations

With the rapid development of global economy and the expansion of the main business scope of projects,the number of candidate projects faced by enterprises is increasing.In the multi-project environment with high complexity and strong dynamics,enterprises need to select the project portfolio that maximizes the benefits goals to maintain competitive advantage and achieve sustainable development.In management practice,the realization of project portfolio benefit is affected by a variety of factors,which are characterized by diversity.And there are complex synergistic relationships between factors and projects,which increases the difficulty of connecting project portfolio with benefits.Therefore,comprehensively considering the factors influencing project portfolio benefits and project portfolio synergy,selecting the optimal project portfolio from multiple candidate projects has become a practical problem that enterprises urgently need to face.In order to solve the above problems,this study incorporates the factors influencing project portfolio benefits and the synergistic relationships within project portfolio into the study of project portfolio selection.It provides theoretical and methodological support for enterprises to select the project portfolio with the goal of maximizing benefits.Firstly,guided by the balanced scorecard theory,this paper comprehensively considers the financial benefits and non-financial benefits of project portfolio,and constructs a benefit-oriented project portfolio selection index system from four aspects,namely portfolio financial benefits,portfolio internal processes,portfolio stakeholders,and portfolio learning and growth.Second,the synergistic relationships between the factors are measured by the composite system synergy degree and the triangular fuzzy number hierarchy analysis method.The synergistic relationships between projects are measured from the four dimensions: resource synergy,technology synergy,information synergy and market synergy.Then,a benefit-oriented project portfolio selection network considering synergistic relationships is constructed.Subsequently,considering the influencing factors and multiple relationships,the random walk with restart algorithm is used to simulate the degree of benefit realization of the project portfolio.Finally,the effectiveness of the proposed method is proved by an example analysis.This study proposes a method of project portfolio selection which considers synergistic relationships under benefit orientation.It makes up for the lack of considering factors influencing project portfolio benefit in the existing research on project portfolio selection,which enriches the research on project portfolio benefit theory and project portfolio selection.At the same time,the complex relationships between projects and factors are brought into the process of project portfolio selection from the perspective of network.The method expands the existing research of project portfolio selection,and offers a new direction for organizations to select the optimal project portfolio.