Budget-constrained portfolio trades using multiobjective optimization

Authors:
Patrick Smith;Matthew Ferringer;Ryan Kelly;Inki Min
Affiliations:
The Aerospace Corporation, El Segundo, CA 90009;The Aerospace Corporation, El Segundo, CA 90009;The Aerospace Corporation, El Segundo, CA 90009;The Aerospace Corporation, El Segundo, CA 90009
Venue:
Systems Engineering
Year:
2012

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Abstract

A decision support process using many-objective optimization, high-performance computing, and advanced visualization is applied to gain comprehensive insight into multistakeholder portfolio budgeting trades. The key tradeoffs among nondominated portfolio budget solutions are systematically identified and examined with respect to different stakeholder viewpoints. The approach is illustrated using a portfolio of 14 U.S. Air Force satellite development programs using budget data taken from the 2010 Future Year Development Plan [http://www.saffm.hq.af.mil/budget/, last accessed April 20, 2011]. Practical lessons learned in applying the approach are discussed. ©2012 Wiley Periodicals, Inc. Syst Eng 15 © 2012 Wiley Periodicals, Inc.