Affiliation:
1. Amirkabir University of Technology, Tehran, Iran
2. University of Alberta, Edmonton, Canada
3. BI Norwegian Business School, Oslo, Norway
Abstract
To improve the effectiveness of project portfolio risk management, a portfolio-wide approach is required. Implementing a proactive strategy, this article presents a method based on mathematical optimization to select an appropriate set of a priori local and global responses to address risks that threaten a project portfolio considering key factors, such as cost, budget, project preference weights, risk-event probabilities, interdependencies among work packages, and both occurrence and impact dependencies among risk events. As the proposed method has new features compared to the existing methods developed for a single project, it can also be used in project risk management.
Subject
Management of Technology and Innovation,Strategy and Management,Business and International Management
Cited by
40 articles.
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