Sustainable project portfolio selection and optimization with considerations of outsourcing decisions, financing options and staff assignment under interval type-2 fuzzy uncertainty

Seyed Meysam Mousavi | V. Mohagheghi | R. Shahabi?Shahmiri

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URL :   http://research.shahed.ac.ir/WSR/WebPages/Report/PaperView.aspx?PaperID=169788
Date :  2022/03/29
Publish in :    Neural Computing and Applications

Link :  https://link.springer.com/article/10.1007/s00521-022-07207-3
Keywords :Sustainability, Project portfolio selection, Outsourcing, Project financing, Staff assignment, Uncertain mathematical programming, Interval type-2 fuzzy sets

Abstract :

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Selecting the best portfolio of projects by considering several objectives, including financial, social, and environmental goals, is the main goal in sustainable project portfolio selection problems while addressing staff assignment and financing options. Issues, such as global warming or social unrests, have made the problem of sustainable project portfolio selection a vital process for many firms. In other words, the success of firms in reaching their stated goals requires a selection of the best portfolio of projects. Given the importance of this topic, this paper presents a novel mathematical modeling approach for sustainable project portfolio selection. The model regards staff assignment based on learning and forgetting effects. Moreover, financing each phase of the projects is determined while addressing the possibility of outsourcing. To make it possible to consider uncertain decision-making environments, interval type-2 fuzzy sets are used, and a new uncertain optimization process is extended. The application of the model shows that it is capable of assisting the main decision makers in finding the best portfolio of sustainable projects while performing staff assignments based on learning and forgetting effects, finding a proper outsourcing plan, and selecting the best financing option for projects under uncertainty.