Paper Info
Title
Structuring resource allocation decisions: A framework for building multi-criteria portfolio models with area-grouped options
Abstract
Multi-criteria portfolio modelling has been extensively employed as an effective means to allocate scarce resources for investment in projects when considering costs, benefits and risks. Some of these modelling approaches allow the grouping of projects into organisational areas, thus also supporting the decision of resource allocation among organisational units in a way that is collectively efficient for the organisation. However, structuring in practice a portfolio model using this latter type of approach is not a trivial task. How should areas be defined? Where should new projects be included? How should one define the criteria to evaluate performance? As far as we know, there is very little indication in the operational research and decision sciences literatures on how to structure this type of model. This paper suggests different ways to structuring portfolio models where projects are divided into areas and evaluated by multiple criteria, and illustrates their use in two action-research projects. Drawing on these experiences it then suggests a general framework for the structuring of such models in practice. Directions for future research are also identified.
Year
DOI
Venue
2009
10.1016/j.ejor.2009.01.054
European Journal of Operational Research
Keywords
Field
DocType
Multi-criteria decision analysis,Problem structuring,Portfolio analysis,Resource allocation decisions
Economics,Multiple-criteria decision analysis,Scarcity,Inversion (meteorology),Modern portfolio theory,Stock exchange,Portfolio,Resource allocation,Structuring,Operations management,Management science
Journal
Volume
Issue
ISSN
199
3
0377-2217
Citations 
PageRank 
References 
13
0.81
10
Authors
4
Name
Order
Citations
PageRank
G Montibeller123816.25
L. Alberto Franco223414.64
Ewan Lord3130.81
Aline Iglesias4130.81