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EFFICIENT PROJECT PORTFOLIO MANAGEMENT. AN INTELLIGENT DECISION SUPPORT SYSTEM FOR ENGINEERING AND CONSULTANCY FIRMS.

DECEMBER 2009   -  Volume: 84 -  Pages: 761-772

DOI:

https://doi.org/10.6036/2449

Authors:

JOSE ALBERTO ARAUZO ARAUZO - JOSE MANUEL GALAN ORDAX - JAVIER PAJARES GUTIERREZ - ADOLFO LOPEZ PAREDES

Disciplines:

  • Organization and management of enterprises (GESTION DE PROYECTOS )

Downloads:   368

Cites in Web of Science:  3

How to cite this paper:  
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Received Date :   1 December 2008

Reviewing Date :   15 June 2009


Key words:
gestión de la cartera de proyectos, programación de proyectos, entornos multiproyecto, sistemas multiagente, subasta, project portfolio management, project scheduling, multi-project environments, multi-agent systems, auction.
Article type:
ARTICULO DE INVESTIGACION / RESEARCH ARTICLE
Section:
VARIOUS

ABSTRACT
In this paper, we show how an approach inspired on allocation procedures used in financial markets allows an
efficient resource assignment in multi-project environments. This novel approach can give support to engineering and consultancy companies, with their project portfolio planning and scheduling in dynamicenvironments. Project portfolio and resources availability
change over time because of changes in the firm’s strategy, because of individual project overruns or simply, as a result of environmental changes. Therefore, resources need to be re-allocated dynamically. In our methodology, projects and resources play the role of economic agents. Projects are defined by means of tasks to be performed according to precedence relations. Resources are endowed with some skills and competences
(knowledge, labour time, etc.) which are necessary to perform the tasks. Projects ask for resources and resources offer their capabilities depending on their time availability. An “auction” takes place and the price of resources in a particular time-slot reflects the relation between availability and demand of resource capabilities. We describe an example to show how the methodology works. A pilot model can be used in Technical Engineering
Offices in order to support portfolio scheduling decisions.

KEYWORDS: project portfolio management, project scheduling, multi-project environments, multi-agent systems, auction.

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