Robust Mathematical Model for Projects' Portfolio Selection and Solving with Non Dominated Sorting Genetic Algorithm II

Abstract

Considering that the active companies in the field of oil, gas,petrochemical and other energies are project-based and also theincrease of gas applicants who have taken policy of replacing the gasinstead of other fossil fuels, have imposed certain condition onorganizations and project managers in the Gas Company.One of themost important problem in the issue of project management is projectportfolio selection which is defined one of the most importantactivities in many organization such as gas organization. In this studyat first the effective indicators on projects are extracted by using theliterature and interviews with the experts of gas industry then themathematical robust multi objective model is provided by consideringthe uncertainty and unreliability in some parameters of model. Thismodel is solved by using Non-dominate Sorting Genetic Algorithmfor 20 degree of risk-taking decision Gama ( , Ct  Bt  ).At the end forhelping in decision making the TOPSIS technique is used forproviding a specific answer in Pareto Front .

Keywords

• project portfolio selection
• robust optimization
• multi objective optimization
• non dominated sorting genetic algorithm