A Decision Support System for Project Portfolio Management in Construction Companies

Date

2022-11-01

Author

Bilgin, Gozde
Dikmen Toker, İrem
Birgönül, Mustafa Talat
ÖZORHON ORAKÇAL, BELİZ

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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.

Subject Keywords

Construction management, decision support systems, project portfolio management, risk management, SELECTION, INTERDEPENDENCIES, SUCCESS, MODEL, KNOWLEDGE, TOOL

URI

https://hdl.handle.net/11511/101593

Journal

INTERNATIONAL JOURNAL OF INFORMATION TECHNOLOGY & DECISION MAKING

DOI

https://doi.org/10.1142/s0219622022500821

Collections

Department of Civil Engineering, Article

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Citation Formats

G. Bilgin, İ. Dikmen Toker, M. T. Birgönül, and B. ÖZORHON ORAKÇAL, “A Decision Support System for Project Portfolio Management in Construction Companies,” INTERNATIONAL JOURNAL OF INFORMATION TECHNOLOGY & DECISION MAKING, pp. 0–0, 2022, Accessed: 00, 2023. [Online]. Available: https://hdl.handle.net/11511/101593.