Project portfolio selection management through decision support: a system prototype

Abstract

<p>Many organizations have been making serious efforts to analyze project proposals in order to generate estimates and evaluations for choosing project portfolios. Thus far, no integrated framework has been proposed to help decision makers perform the function of selecting the most suitable or optimal project portfolio. In this paper we propose a decision support system concept based on a framework described in a previous working paper (Archer & Ghasemzadeh 1996). This framework is flexible enough to all ow users to choose the methodologies that suit their organization in assisting decision makers to make the best choice. We discuss issues relevant to decision support in this field, and describe an initial prototype interface which was developed for decision makers to interact with the decision support system in the final stage of portfolio selection (portfolio balancing and adjustment). Finally, we discuss research and development issues yet to be addressed in developing and testing a full scale prototype that would support decision makers throughout the project portfolio selection process.</p>