A Multi-criteria Decision Support System for R&D Project Selection

Theodor J. Stewart

102 citations0/0 files storedJournal of the Operational Research Society

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Multi-Criteria Decision Making Decision Support System Applications Optimization and Mathematical Programming

Abstract

This paper describes the development of a decision support system for the selection of a portfolio of R&D projects, which was carried out for a large electricity utility corporation. The DSS was constructed round a reference point approach for the underlying multi-criteria decision problem. The application of this approach did require a less usual form of scalarizing function as well as a heuristic algorithm for solving a non-linear knapsack problem. Practical aspects of the implementation of the multi-criteria approach in a DSS operating on a PC are also discussed.

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References

1985The Analytic Hierarchy Process 1994Decisions with Multiple Objectives: Preferences and Value Tradeoffs.1975Group Techniques for Program Planning 1989Strategic evaluation and selection of R&D projects

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2006MCDA and Energy Planning 2008A Group Decision Support Approach to Evaluate Experts for R&D Project Selection 2015Strategic project portfolio selection for national research institutes 2002Decision support system for multicriterial R&D and information systems projects selection 2002A hybrid knowledge and model system for R&D project selection 2007Ranking projects for an electricity utility using ELECTRE III 2007A bi-objective genetic algorithm approach to risk mitigation in project scheduling 2016Multicriteria Portfolio Decision Analysis for Project Selection

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