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Multi-criteria decision-making methods for project portfolio management: a literature review

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  • Darius Danesh
  • Michael J. Ryan
  • Alireza Abbasi

Abstract

Project portfolio management (PPM) has become a key element of large organisations' service delivery due to the close attention inherently paid to numerous issues in the discipline of project management. Its success is closely associated with the degree of understanding of its issues and the quality of decisions made at the portfolio level which can be addressed using multi-criteria decision-making (MCDM) methods. Although several of these MCDM methods have been introduced to support decision-making functions as part of PPM, there has been little assessment of their performances, particularly when combining some of them. This paper identifies the key challenges of PPM, proposes a new framework for classifying PPM MCDM related methods and presents a literature review of applications of MCDM methods to PPM.

Suggested Citation

  • Darius Danesh & Michael J. Ryan & Alireza Abbasi, 2018. "Multi-criteria decision-making methods for project portfolio management: a literature review," International Journal of Management and Decision Making, Inderscience Enterprises Ltd, vol. 17(1), pages 75-94.
    • Handle: RePEc:ids:ijmdma:v:17:y:2018:i:1:p:75-94
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    Citations

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    Cited by:

    1. Aleksandar Aleksić & Danijela Tadić, 2023. "Industrial and Management Applications of Type-2 Multi-Attribute Decision-Making Techniques Extended with Type-2 Fuzzy Sets from 2013 to 2022," Mathematics, MDPI, vol. 11(10), pages 1-24, May.
    2. Tariq Mahadeen & Kostas Galanakis & Elpida Samara & Pavlos Kilintzis, 2021. "Heuristics and Evidences Decision (HeED) Making: a Case Study in a Systemic Model for Transforming Decision Making from Heuristics-Based to Evidenced-Based," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(4), pages 1668-1693, December.
    3. Ran Etgar & Yuval Cohen, 2022. "Roadmap Optimization: Multi-Annual Project Portfolio Selection Method," Mathematics, MDPI, vol. 10(9), pages 1-23, May.
    4. Eslam Mohammed Abdelkader & Tarek Zayed & Hassan El Fathali & Ghasan Alfalah & Abobakr Al-Sakkaf & Osama Moselhi, 2023. "An Integrated Multi-Criteria Decision Making Model for the Assessment of Public Private Partnerships in Transportation Projects," Mathematics, MDPI, vol. 11(16), pages 1-41, August.
    5. Maciej Nowak & Tadeusz Trzaskalik, 2022. "A trade-off multiobjective dynamic programming procedure and its application to project portfolio selection," Annals of Operations Research, Springer, vol. 311(2), pages 1155-1181, April.

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