A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio Selection
The problem of selection and the best option are the main subject of operation research science in decision-making theory. Selection is a process that scrutinizes and investigates several quantitative and qualitative, and most often incompatible, factors. One of the most fundamental management issue...
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| Format: | Article |
| Language: | English |
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Wiley
2014-01-01
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| Series: | Journal of Applied Mathematics |
| Online Access: | http://dx.doi.org/10.1155/2014/159675 |
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| author | Farshad Faezy Razi Abbas Toloie Eshlaghy Jamshid Nazemi Mahmood Alborzi Alireza Pourebrahimi |
| author_facet | Farshad Faezy Razi Abbas Toloie Eshlaghy Jamshid Nazemi Mahmood Alborzi Alireza Pourebrahimi |
| author_sort | Farshad Faezy Razi |
| collection | DOAJ |
| description | The problem of selection and the best option are the main subject of operation research science in decision-making theory. Selection is a process that scrutinizes and investigates several quantitative and qualitative, and most often incompatible, factors. One of the most fundamental management issues in multicriteria selection literature is the multicriteria adoption of the projects portfolio. In such decision-making condition, manager is seeking for the best combination to build up a portfolio among the existing projects. In the present paper, KOHONEN algorithm was first employed to build up a portfolio of the projects. Next, each portfolio was evaluated using grey relational analysis (GRA) and then scheduled risk of the project was predicted using Mamdani fuzzy inference method. Finally, the multiobjective biogeography-based optimization algorithm was utilized for drawing risk and rank Pareto analysis. A case study is used concurrently to show the efficiency of the proposed model. |
| format | Article |
| id | doaj-art-dd371b7cb7664c9d8263e3150f8b4b7b |
| institution | Kabale University |
| issn | 1110-757X 1687-0042 |
| language | English |
| publishDate | 2014-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Journal of Applied Mathematics |
| spelling | doaj-art-dd371b7cb7664c9d8263e3150f8b4b7b2025-08-20T03:24:26ZengWileyJournal of Applied Mathematics1110-757X1687-00422014-01-01201410.1155/2014/159675159675A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio SelectionFarshad Faezy Razi0Abbas Toloie Eshlaghy1Jamshid Nazemi2Mahmood Alborzi3Alireza Pourebrahimi4Department of Industrial Management, Semnan Branch, Islamic Azad University, Semnan, IranDepartment of Industrial Management, Science and Research Branch, Islamic Azad University, Tehran, IranDepartment of Industrial Management, Science and Research Branch, Islamic Azad University, Tehran, IranDepartment of Industrial Management, Science and Research Branch, Islamic Azad University, Tehran, IranDepartment of Industrial Management, Karaj Branch, Islamic Azad University, Karaj, IranThe problem of selection and the best option are the main subject of operation research science in decision-making theory. Selection is a process that scrutinizes and investigates several quantitative and qualitative, and most often incompatible, factors. One of the most fundamental management issues in multicriteria selection literature is the multicriteria adoption of the projects portfolio. In such decision-making condition, manager is seeking for the best combination to build up a portfolio among the existing projects. In the present paper, KOHONEN algorithm was first employed to build up a portfolio of the projects. Next, each portfolio was evaluated using grey relational analysis (GRA) and then scheduled risk of the project was predicted using Mamdani fuzzy inference method. Finally, the multiobjective biogeography-based optimization algorithm was utilized for drawing risk and rank Pareto analysis. A case study is used concurrently to show the efficiency of the proposed model.http://dx.doi.org/10.1155/2014/159675 |
| spellingShingle | Farshad Faezy Razi Abbas Toloie Eshlaghy Jamshid Nazemi Mahmood Alborzi Alireza Pourebrahimi A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio Selection Journal of Applied Mathematics |
| title | A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio Selection |
| title_full | A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio Selection |
| title_fullStr | A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio Selection |
| title_full_unstemmed | A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio Selection |
| title_short | A Hybrid Grey Based KOHONEN Model and Biogeography-Based Optimization for Project Portfolio Selection |
| title_sort | hybrid grey based kohonen model and biogeography based optimization for project portfolio selection |
| url | http://dx.doi.org/10.1155/2014/159675 |
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