Modeling and Solving Project Portfolio and Contractor Selection Problem Based on Project Scheduling under Uncertainty

Abstract

In this paper a new formulation of the project portfolio selection problem based on the project schedules in uncertain circumstances have been proposed. The project portfolio selection models usually disregard the project scheduling, whereas is an element of the project selection process. We investigate a project portfolio selection problem based on the schedule of the projects, so that the minimum expected profit would be met in the shortest possible time period. Also due to uncertain nature of durations of the activities, this duration considered as the semi-trapezoidal fuzzy numbers. Finally, a fuzzy linear programming model is developed for the problem, where the results indicated the validity of the presented model.