An interactive algorithm for portfolio bi-criteria optimization of R&D projects in public organizations

Authors:
I. Litvinchev;F. López
Affiliations:
Computer Center, Russian Academy of Sciences, Moscow, Russia 119333;Department of Mechanical and Electrical Engineering, Nuevo Leon State University, S.N. Garza, Mexico 66450
Venue:
Journal of Computer and Systems Sciences International
Year:
2008

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Abstract

In this paper we propose an interactive algorithm for the selection of portfolios of research and development (R&D) projects in public organizations based on a bi-criteria optimization model, the need for such a model arises when the decision maker (DM) does not trust enough on the portfolio quality measure. This algorithm efficiently exploits the structure and nature of the problem to support the DM. An interesting proposal is also the representation of a portfolio as a set of "rules of support/rejection"; in this way the DM can not only valuate the portfolio by its numerical measures but also compare against his/her beliefs in a way that is more natural for him, which also allows for supporting with more arguments the solution obtained so far. Rough set methodology is employed for rule discovering.