IDEAS home Printed from https://ideas.repec.org/a/spr/opsear/v61y2024i1d10.1007_s12597-023-00685-6.html
   My bibliography  Save this article

A new fuzzy model for multi-criteria project portfolio selection based on modified Kerre’s inequality

Author

Listed:
  • Ali Akbar Sohrabi

    (Graduated student at Ferdowsi Univesity of Mashhad)

  • Reza Ghanbari

    (Ferdowsi University of Mashhad)

  • Khatere Ghorbani-Moghadam

    (Kharazmi University)

  • Sedigheh Sadeghi

    (Ferdowsi University of Mashhad)

Abstract

Recently, a model for project portfolio selection have been proposed. Here, to modify the proposed model, we consider the parameters of model as fuzzy numbers and we call it fuzzy project portfolio selection problem (FPPSP). Since our proposed model is NP-hard problem, then an efficient fuzzy variable neighborhood search (FVNS) algorithm for solving this model is proposed. In several methods, a FPPS is converted to a crisp problem, but in our proposed algorithm, using modified Kerre’s inequality, the fuzzy optimization problem is solved directly, without changing it to a crisp problem. Finally, in order to demonstrate the efficiency of proposed algorithm, the numerical results of FVNS algorithm are compared with the numerical results of recently proposed method.

Suggested Citation

  • Ali Akbar Sohrabi & Reza Ghanbari & Khatere Ghorbani-Moghadam & Sedigheh Sadeghi, 2024. "A new fuzzy model for multi-criteria project portfolio selection based on modified Kerre’s inequality," OPSEARCH, Springer;Operational Research Society of India, vol. 61(1), pages 33-50, March.
    • Handle: RePEc:spr:opsear:v:61:y:2024:i:1:d:10.1007_s12597-023-00685-6
    DOI: 10.1007/s12597-023-00685-6
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s12597-023-00685-6
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s12597-023-00685-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. P. Senthil Kumar, 2019. "Intuitionistic fuzzy solid assignment problems: a software-based approach," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 10(4), pages 661-675, August.
    2. Liu, Yong-Jun & Zhang, Wei-Guo, 2015. "A multi-period fuzzy portfolio optimization model with minimum transaction lots," European Journal of Operational Research, Elsevier, vol. 242(3), pages 933-941.
    3. P. Senthil Kumar, 2020. "Intuitionistic fuzzy zero point method for solving type-2 intuitionistic fuzzy transportation problem," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 37(3), pages 418-451.
    4. Pérez, Fátima & Gómez, Trinidad & Caballero, Rafael & Liern, Vicente, 2018. "Project portfolio selection and planning with fuzzy constraints," Technological Forecasting and Social Change, Elsevier, vol. 131(C), pages 117-129.
    5. Tsaur, Ruey-Chyn, 2013. "Fuzzy portfolio model with different investor risk attitudes," European Journal of Operational Research, Elsevier, vol. 227(2), pages 385-390.
    6. P. Senthil Kumar, 2020. "Algorithms for solving the optimization problems using fuzzy and intuitionistic fuzzy set," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 11(1), pages 189-222, February.
    7. López-Ibáñez, Manuel & Dubois-Lacoste, Jérémie & Pérez Cáceres, Leslie & Birattari, Mauro & Stützle, Thomas, 2016. "The irace package: Iterated racing for automatic algorithm configuration," Operations Research Perspectives, Elsevier, vol. 3(C), pages 43-58.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. P. Senthil Kumar, 2019. "PSK Method for Solving Mixed and Type-4 Intuitionistic Fuzzy Solid Transportation Problems," International Journal of Operations Research and Information Systems (IJORIS), IGI Global, vol. 10(2), pages 20-53, April.
    2. Abdelmalek Ouannou & Adil Brouri & Laila Kadi & Hafid Oubouaddi, 2022. "Identification of switched reluctance machine using fuzzy model," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 13(6), pages 2833-2846, December.
    3. A. Dutta & A. K. Das, 2024. "Bounded homotopy path approach to the solution of linear complementarity problems," OPSEARCH, Springer;Operational Research Society of India, vol. 61(1), pages 352-372, March.
    4. P. Senthil Kumar, 2020. "Developing a New Approach to Solve Solid Assignment Problems Under Intuitionistic Fuzzy Environment," International Journal of Fuzzy System Applications (IJFSA), IGI Global, vol. 9(1), pages 1-34, January.
    5. Saeedeh Bazari & Alireza Pooya & Omid Soleimani Fard & Pardis Roozkhosh, 2023. "Modeling and solving the problem of scheduling university exams in terms of new constraints on the conflicts of professors' exams and the concurrence of exams with common questions," OPSEARCH, Springer;Operational Research Society of India, vol. 60(2), pages 877-915, June.
    6. Sukhpal & Kaushal Kumar, 2024. "Multi-trip multi-compartment vehicle routing problem with backhauls," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(5), pages 1717-1734, May.
    7. Li Cheng & Liu Conglin, 2023. "Game analysis and pricing strategy of duopoly airlines based on service," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 14(3), pages 1103-1124, June.
    8. Wei Chen & Yun Wang & Mukesh Kumar Mehlawat, 2018. "A hybrid FA–SA algorithm for fuzzy portfolio selection with transaction costs," Annals of Operations Research, Springer, vol. 269(1), pages 129-147, October.
    9. S. Gopi & Prabhujit Mohapatra, 2025. "A modified grey wolf optimization algorithm to solve global optimization problems," OPSEARCH, Springer;Operational Research Society of India, vol. 62(1), pages 337-367, March.
    10. Sandesh Kurade & Raosaheb Latpate & Vinayak Gedam, 2025. "Multi-objective mixed mode sugarcane transportation model using fuzzy NSGA," OPSEARCH, Springer;Operational Research Society of India, vol. 62(1), pages 149-177, March.
    11. Ashutosh Choudhary & Shiv Prasad Yadav, 2022. "An approach to solve interval valued intuitionistic fuzzy transportation problem of Type-2," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 13(6), pages 2992-3001, December.
    12. Francis Ikechukwu Obidike & Chidozie Chukwuemeka Nwobi-Okoye, 2023. "Measurement of the efficiency of a Multi–Input–Multi–Output (MIMO) production process using transfer function and fuzzy logic," OPSEARCH, Springer;Operational Research Society of India, vol. 60(4), pages 1976-2000, December.
    13. Raj Kumar Bera & Shyamal Kumar Mondal, 2023. "Analyzing the nature of a transportation problem before and during COVID-19 pandemic in multi-fuzzy environment," OPSEARCH, Springer;Operational Research Society of India, vol. 60(4), pages 1659-1702, December.
    14. Liu, Weilong & Zhang, Yong & Liu, Kailong & Quinn, Barry & Yang, Xingyu & Peng, Qiao, 2023. "Evolutionary multi-objective optimisation for large-scale portfolio selection with both random and uncertain returns," QBS Working Paper Series 2023/02, Queen's University Belfast, Queen's Business School.
    15. Jin, Xiu & Chen, Na & Yuan, Ying, 2019. "Multi-period and tri-objective uncertain portfolio selection model: A behavioral approach," The North American Journal of Economics and Finance, Elsevier, vol. 47(C), pages 492-504.
    16. P. Senthil Kumar, 2020. "Algorithms for solving the optimization problems using fuzzy and intuitionistic fuzzy set," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 11(1), pages 189-222, February.
    17. P. Senthil Kumar, 2019. "Intuitionistic fuzzy solid assignment problems: a software-based approach," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 10(4), pages 661-675, August.
    18. Chen, Wei, 2015. "Artificial bee colony algorithm for constrained possibilistic portfolio optimization problem," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 429(C), pages 125-139.
    19. Oğuzhan Ahmet Arık, 2024. "Optimal policies for minimizing total job completion times and deviations from common due dates in unrelated parallel machine scheduling," OPSEARCH, Springer;Operational Research Society of India, vol. 61(3), pages 1654-1680, September.
    20. Sohaib Dastgoshade & Hassan Hosseini-Nasab & Yahia Zare Mehrjerdi, 2024. "Investigating of transportation systems development for urban districts, costs and social equity: a case of Sanandaj, Kurdistan," OPSEARCH, Springer;Operational Research Society of India, vol. 61(1), pages 373-398, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:opsear:v:61:y:2024:i:1:d:10.1007_s12597-023-00685-6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.