Published in: 14th International Industrial Engineering Conference
COI code: IIEC14_042
Paper Language: English
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Authors Budget allocation in a portfolio of projects concerning both efﬁciency and fairnessNima Golghamat Raad - Master student of Industrial Engineering Department, Amirkabir University of Technology, Tehran, Iran
SMT Fatemi Ghomi - Professor of Industrial Engineering Department, Amirkabir University of Technology, Tehran, Iran
Abstract:Allocation of scarce resources to different projects within a portfolio has been the subject of many scientific researches for a long time. Most of those are focused on maximizing the gained profit while rest of them concentrate on the other critical factors such as time, risk, cost, and alignment with the organizational strategic goals. But, few studies has considered this issue that in an unbalanced budget or resource allocation, those subjects, departments or projects that are received less share, may get failed andput the credit of the organization at risk. Also, the managers and staff who are involved in those projects or departments may lose their enthusiasm and job satisfaction and their capabilities may remain unused. In this paper, an OR Model is proposed to give a balanced budget allocation based on both Fairness and efficiency . The model not only helps the managers choose between projects, but also propose one of these three modes for accepted projects: Extended Mode , Normal Mode and limited Mode . The outcomes of the models can be used as a decision support system for portfolio managers.
Keywords:Fair allocation, Fairness, Budget allocation, Project Portfolio selection
COI code: IIEC14_042
how to cite to this paper:If you want to refer to this article in your research, you can easily use the following in the resources and references section:
Golghamat Raad, Nima & SMT Fatemi Ghomi, 2017, Budget allocation in a portfolio of projects concerning both efﬁciency and fairness, 14th International Industrial Engineering Conference, تهران, انجمن مهندسي صنايع ايران - دانشگاه علم و صنعت ايران, https://www.civilica.com/Paper-IIEC14-IIEC14_042.htmlInside the text, wherever referred to or an achievement of this article is mentioned, after mentioning the article, inside the parental, the following specifications are written.
First Time: (Golghamat Raad, Nima & SMT Fatemi Ghomi, 2017)
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Type: state university
Paper No.: 19662
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