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A fuzzy multidimensional multiple-choice knapsack model for project portfolio selection using an evolutionary algorithm

delete2013-05-10
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M
Madjid Tavana *
K
Kaveh Khalili‐Damghani
A
Amir‐Reza Abtahi
DOI:10.1007/s10479-013-1387-3delete
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Abstract

Abstract

En 中文
Project portfolio selection problems are inherently complex problems with multiple and often conflicting objectives. Numerous analytical techniques ranging from simple weighted scoring to complex mathematical programming approaches have been proposed to solve these problems with precise data. However, the project data in real-world problems are often imprecise or ambiguous. We propose a fuzzy Multidimensional Multiple-choice Knapsack Problem (MMKP) formulation for project portfolio selection. The proposed model is composed of an Efficient Epsilon-Constraint (EEC) method and a customized multi-objective evolutionary algorithm. A Data Envelopment Analysis (DEA) model is used to prune the generated solutions into a limited and manageable set of implementable alternatives. Statistical analysis is performed to investigate the effectiveness of the proposed approach in comparison with the competing methods in the literature. A case study is presented to demonstrate the applicability of the proposed model and exhibit the efficacy of the procedures and algorithms.
Keywords:
Multidimensional multiple-choice knapsack
Multi-objective evolutionary algorithm
Efficient epsilon-constraint
Data envelopment analysis
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Journal

Annals of Operations Research cover
Annals of Operations Research
IF:
4.5
Papers:
8.1K
Citations:
2.1W

Organization

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Islamic Azad University
Scholars:
4.0W
Papers: 3.3W
Citations: 9.8K
La Salle University cover
La Salle University
Scholars:
159
Papers: 274
Citations: 286
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