Abstract
In vision-driven development plans, such as the Kuwait Mid-Range Development Plan 2015/2016–2019/2020, themes and pillars are derived from the plan's vision, and global indices are assigned by international organizations to accurately measure the performance against the vision's themes. This allows for comparison with other countries, and it also set targets for progression over time. One or more projects are assigned to the indicators of these global indices. A Multi-Criteria Mathematical Programming Technique (e.g., Goal Programming) is used with multiple goals and priorities where an Optimal Portfolio of Projects is found that satisfied the selection criteria.
Highlights
The project portfolio selection problem has been discussed for decades by many researchers in the fields of project management, financial management, risk management, and investment (Jafarzadeh et al, 2015; Péreza et al, 2018)
In vision-driven development plans, such as the Kuwait Mid-Range Development Plan 2015/2016– 2019/2020, themes and pillars are derived from the plan’s vision, and global indices are assigned by international organizations to accurately measure the performance against the vision’s themes. This allows for comparison with other countries, and it set targets for progression over time
One or more projects are assigned to the indicators of these global indices
Summary
The project portfolio selection problem has been discussed for decades by many researchers in the fields of project management, financial management, risk management, and investment (Jafarzadeh et al, 2015; Péreza et al, 2018). When dealing with national projects, two sets of activities are identified There are those that deal the evaluation of each project in terms of their efficiency; effectiveness; broad developmental impact; and sustainability, including cost and benefits analysis, economic analysis, and risk assessment analysis, (etc.). Global indices by international organizations such as the World Bank, the UN, and other international sources are identified and assigned to each cell of the matrix, that is, the intersection of each theme and pillar, where applicable These global indices allow for accurately measuring the performance against the vision’s themes, allow for comparison with other countries, and set targets for progression over time
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