• Korean Management Science Review
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• v.25 no.1
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• pp.1-9
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• 2008

This paper investigates the R&D project portfolio selection problem. Despite its importance and impact on real world projects, there exist few practical techniques that help construct an non-dominated portfolio for a decision makers satisfaction. One of the difficulties constructing the portfolio is that such project portfolio problem is, in nature, a multi-attribute decision-making problem, which is an NP-hard class problem. This paper investigates the R&D project portfolio selection problem. Despite its importance and impact on real world projects, there exist few practical techniques that help construct an non-dominated portfolio for a decision makers satisfaction. One of the difficulties constructing the portfolio is that such project portfolio problem is, in nature, a multi-attribute decision-making problem, which is an NP-hard class problem. In order to obtain the non-dominated portfolio that a decision maker or a user is satisfied with, we devise a user-interface algorithm, in that the user provides the maximum/minimum input values for each project attribute. Then the system searches the non-dominated portfolio that satisfies all the given constraints if such a portfolio exists. The process that the user adjusts the maximum/minimum values on the basis of the portfolio found continues repeatedly until the user is optimally satisfied with. We illustrate the algorithm proposed, and the computational results show the efficacy of our procedure.

• Journal of information and communication convergence engineering
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• v.9 no.5
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• pp.491-499
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• 2011

In this paper, we offer a new strategic portfolio model for national IT R&D project selection in Korea. A risk and return (R-R) portfolio model was developed using an objectively quantified index on the two axes of risk and return, in order to select a strategic project and allocate resources in compliance with a national IT R&D strategy. We strategize using the R-R portfolio model to solve the non-strategy and subjectivity problems of the existing national R&D project selection model. We also use the quantified evaluation index of the IT technology road map (TRM) and the technical level reports (TLR) for the subjectivity of project selection, and try to discover the weights using the analytic hierarchy process (AHP). In addition, we intend to maximize the chance for a successful national IT R&D project, by selecting a strategic portfolio project and balancing the allocation of resources effectively and objectively.

• Management & Information Systems Review
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• v.19
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• pp.1-15
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• 2006

The concept of portfolio is rarely understood and used in R&D management field. The conventional management technique in selecting R&D projects is scoring each projects and choosing projects based on the scores which are determined during evaluation. As a collection of good stocks is not necessarily a good stock portfolio, a collection of good R&D projects is not always a good R&D project portfolio. In this paper, framework and practical technique for constructing a R&D project portfolio are introduced. This technique can be easily applied in private and plublic R&D institutes.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.15 no.3
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• pp.501-509
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• 2011

In this paper, we offer a new strategic Portfolio Model for national IT R&D project selection in Korea. A risk and return (R-R) Portfolio Model was developed using an objectively quantified index on the two axes of risk and return, in order to select a strategic project and allocate resources in compliance with a national IT R&D strategy. We strategize using the R-R Portfolio Model to solve the non-strategy and subjectivity problems of the existing national R&D project selection Model. We also use the quantified evaluation index of the IT technology road map (TRM) and the technology level Survey (TLS) for the subjectivity of project selection, and try to discover the weights using the analytic hierarchy process (AHP). In addition, we intend to maximize the chance for a successful national IT R&D project, by selecting a strategic Portfolio project and balancing the allocation of resources effectively and objectively.

• Journal of the military operations research society of Korea
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• v.34 no.3
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• pp.107-116
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• 2008

This paper deals with modelling and introducing of the project portfolio construction and evaluation problem under uncertainty. The common way in industry of managing project portfolio is construction of initial portfolio considering uncertainties which exist inside and outside of portfolio, and periodic revision of portfolio due to the deviation from plans. In this paper, we introduce algorithm which reflecting the industrial common practice of initial planning and periodic revision. With this simulation method, probabilistic distribution of portfolio's performance in consideration can be found.

• The KIPS Transactions:PartD
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• v.18D no.4
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• pp.299-308
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• 2011

In the recent years, a variety of projects have been conducted in order to enhance competitiveness of leading businesses and their followers in the market. Accordingly, the importance of project portfolio management has risen in the open market industry. Project portfolio management refers to crucial decision-making processes which aim to maximize benefits by selecting projects most suitable for a strategic objective among multiple projects with limited resources. In this study, the trend of project portfolio management studies is introduced. The study also presents a mathematical model of the problem, which aims at maximizing project values, possibility, and similarity between projects in the limited resources. We use the genetic algorithm to obtain the priority orders of projects. In order to verify this study, we compare the results of this study and the existing schedules of the E-open market in South Korea. This study ultimately reduces project risks, improves efficiency of development and continuity of tasks by properly ordering projects and assigning developers to the projects.

• Journal of Information Technology Services
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• v.17 no.4
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• pp.101-117
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• 2018

Companies are responding appropriately to the rapidly changing business environment and striving to lead those changes. As part of that, we are meeting our strategic goals through IT projects, which increase the number of simultaneous projects and the importance of project portfolio management for successful project execution. It also strives for efficient deployment of human resources that have the greatest impact on project portfolio management. In the early stages of project portfolio management, it is very important to establish a reasonable manpower plan and allocate performance personnel. This problem is a problem that can not be solved by linear programming because it is calculated through the standard deviation of the input ratio of professional manpower considering the uniformity of load allocated to the input development manpower and the importance of each project. In this study, genetic algorithm, one of the heuristic methods, was applied to solve this problem. As the objective function, we used the proper input ratio of projects, the input rate of specialist manpower for important projects, and the equal load of workload by manpower. Constraints were not able to input duplicate manpower, Was used as a condition. We also developed a program for efficient application of genetic algorithms and confirmed the execution results. In addition, the parameters of the genetic algorithm were variously changed and repeated test results were selected through the independent sample t test to select optimal parameters, and the improvement effect of about 31.2% was confirmed.

• Proceedings of the Korean Society of Computer Information Conference
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• 2010.07a
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• pp.71-74
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• 2010

본 연구에서는 P3기반의 프로젝트 관리 모델을 제안하였다. 제안한 모델은 최근 프로젝트 추진의 범위가 신제품개발, 연구관리, 시스템개발과 경영혁신을 포함하는 등 다각적으로 전개됨에 따라 다양한 프로젝트를 수용할 수 있도록 Program, Project, 그리고 Portfolio를 통한 이슈, 예산, 자원, 위기, 변경관리, 산출물 관리 등에서 신속한 의사결정을 지원할 수 있도록 구현 하였으며, 이렇게 구현된 제안 모델은 빠르게 변화 되는 프로젝트 관리에서 신속한 의사결정과 프로젝트와 연계된 사람 간의 협업을 지원하는 면에서 우수함을 보인다.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2000.11a
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• pp.259-277
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• 2000

In this paper, we suggest theoretical grounds on the problem of R&D portfolio with different option premiums utilizing the Real Options Model, which has received intensified attention as the method of assessment of R&D project with high risk. Even though there have been many studies focused on the evaluation of option value of single project from technology valuation's perspective. there are few study on the portfolio of multiple technology investment by option value using. This paper bears practical importance by showing simple examples with the option value of investment alternatives and the valuation of related risk, the construction of optimum portfolio in technology investment alternatives.

• Journal of Information Technology and Architecture
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• v.9 no.1
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• pp.21-31
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• 2012

We focus on the issues of the non-linear return/risk relationship of IT investment and the balance between return and risk of IT portfolio. We develop an IT project selection model by integrating DEA models with Markowitz portfolio selection theory. The project data collected from a Fortune 100 company are used to illustrate the implementation of the model. In addition, computational experiments are conducted to demonstrate the validity of the proposed model.