A decision support system for project portfolio management in construction companies

Bilgin, G., Dikmen, I. ORCID: https://orcid.org/0000-0002-6988-7557, Birgonul, M. T. and Ozorhon, B. (2022) A decision support system for project portfolio management in construction companies. International Journal of Information Technology and Decision Making, 22 (2). pp. 705-735. ISSN 0219-6220 doi: 10.1142/S0219622022500821

Abstract/Summary

Project portfolio management requires a systematic process that comprises assessment of portfolio risk and expected profitability, as well as strategic fit of individual projects with company objectives. After a needs analysis based on literature findings and surveys with experts, in this study, a process model and a tool, COPPMAN (COnstruction Project Portfolio MANagement), were developed to support project portfolio decisions in construction companies. COPPMAN was developed in collaboration with construction professionals. Different from previous studies, it incorporates a portfolio risk and strategic fit assessment model considering project dependencies and integrates knowledge of previous, on-going and potential projects to estimate value of alternative project portfolios. COPPMAN was implemented in a construction company and evaluated as a useful tool due to its features such as knowledge integration, forecasting of portfolio profitability and recommendation of strategies as well as its visualization features. Research design and findings can be used for development of similar tools in other project-based industries.

Item Type	Article
URI	https://reading-clone.eprints-hosting.org/id/eprint/108343
Identification Number/DOI	10.1142/S0219622022500821
Refereed	Yes
Divisions	Science > School of the Built Environment > Construction Management and Engineering
Publisher	World Scientific
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