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Multi-project management has been a trend of many large organizations’ operations and a preferred organizational strategy in complex and dynamic environments. For an organization to achieve its strategy, it must integrate various projects into a project portfolio and implement coordinated management to make sure that these projects co-evolve in the direction of the overall strategy. As some elements in project portfolio (PP) cannot be quantified or determined accurately, a PP could be characterized as an uncertain and fuzzy problem where it is difficult to measure the co-evolution efficacy. To solve this difficulty, in this paper, we first propose a conceptual framework of Project Portfolio based on Strategic Orientation (PPSO) with quantitative indices and process of the co-evolution. A mathematical model based on Fuzzy Data Envelopment Analysis(FDEA) is built to measure the co-evolution efficacy of the PPSO, and provides a basis for optimal PPSO selection. The model is verified by a computational experiment based on actual data provided by a Chinese firm of HPM, a reputable Chinese project management consulting firm, which has also been officially certified by the International Project Management Association (IPMA). The results suggest that co-evolution efficacy is reasonably effective for selecting the optimal PPSO. To our knowledge, this study is the first time to apply the notion of co-evolution efficacy and fuzzy Data Envelopment Analysis to the PP domain, which enriches the theories of project management and strategic management. Also, this study makes an important contribution to integrating a group of projects into a PP under the strategic direction and helping an organization optimize its strategic management.
Bai, LiBiao 1 ; Du, Qiang 1
@article{RO_2018__52_2_645_0,
author = {Bai, LiBiao and Du, Qiang},
title = {Co-evolution efficacy of project portfolio based on strategic orientation},
journal = {RAIRO - Operations Research - Recherche Op\'erationnelle},
pages = {645--659},
publisher = {EDP-Sciences},
volume = {52},
number = {2},
year = {2018},
doi = {10.1051/ro/2017083},
mrnumber = {3880532},
language = {en},
url = {http://geodesic.mathdoc.fr/articles/10.1051/ro/2017083/}
}
TY - JOUR AU - Bai, LiBiao AU - Du, Qiang TI - Co-evolution efficacy of project portfolio based on strategic orientation JO - RAIRO - Operations Research - Recherche Opérationnelle PY - 2018 SP - 645 EP - 659 VL - 52 IS - 2 PB - EDP-Sciences UR - http://geodesic.mathdoc.fr/articles/10.1051/ro/2017083/ DO - 10.1051/ro/2017083 LA - en ID - RO_2018__52_2_645_0 ER -
%0 Journal Article %A Bai, LiBiao %A Du, Qiang %T Co-evolution efficacy of project portfolio based on strategic orientation %J RAIRO - Operations Research - Recherche Opérationnelle %D 2018 %P 645-659 %V 52 %N 2 %I EDP-Sciences %U http://geodesic.mathdoc.fr/articles/10.1051/ro/2017083/ %R 10.1051/ro/2017083 %G en %F RO_2018__52_2_645_0
Bai, LiBiao; Du, Qiang. Co-evolution efficacy of project portfolio based on strategic orientation. RAIRO - Operations Research - Recherche Opérationnelle, Tome 52 (2018) no. 2, pp. 645-659. doi: 10.1051/ro/2017083
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