Journal
PROCEEDINGS OF THE NINTH INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND ENGINEERING MANAGEMENT
Volume 362, Issue -, Pages 563-574Publisher
SPRINGER-VERLAG BERLIN
DOI: 10.1007/978-3-662-47241-5_48
Keywords
R&D project; Portfolio selection; Multiple-objective; Mixed integer programming
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This paper focuses on a R&D project portfolio selection problem in a bi-level organization. In the organization, the considered project portfolio can be supported by two levels of funds, that is company fund and department funds. There-into, company fund can support all projects while department funds only support projects from a specified department. Hence, in contrast to prior studies, two levels of budget constraints are considered in project selection. To solve this problem, a multi-objective mixed integer programming model which considers three objectives (i.e., maximization of average comprehensive evaluated score, maximization of total expected profit and minimization of average project risk) is proposed. Finally, a practical R&D project selection case from a research institute in Western China is discussed, and the efficiency of the proposed model is evaluated.
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