Research of project portfolio selection model and optimization considering interdependencies based on preferences incorporation of decision maker

Project Portfolio Selection is known as the essential element of strategic project management and decision. There are also some disadvantages in model and methods which are based on the project portfolio selection considering interdependencies and preference incorporation of decision maker. The paper proposes an novel outranking model to classify the preference relationship between different projects, and it also bring the synergies and interdependencies into consideration which makes the model more complete. Moreover, it proposes the improved particle swarm optimization algorithm based on the model which speeds up convergence an expand the diversity of non-dominant solutions simultaneously. In the restrained condition of preferences incorporation and interdependencies, the paper comes up with the experiments to verify the model and method respectively. The results indicate that the non-dominant solutions achieved by the outranking model are likely to the optimum of project portfolio selection, and the improved particle swarm optimization search the results faster.