Project Portfolio Selection and Scheduling Under Uncertainty Conditions with Consideration of Reinvestment

Today, the selection problem is one of the most important goals of any organization. In today's competitive environment, the survival of organizations depends on these choices. Project-based organizations and companies are excluded from this rule, and their survival depends heavily on these choices. On the other hand, the lack of sufficient resources, including budget and human resources, makes it impossible to implement all selected projects simultaneously. Accordingly, the selection and timing of the projects should be examined. The other point that confirms the need for timing is to pay attention to the problem of the time value of money. The funding needed to implement projects has always been one of the concerns of thecompanies. Hence, it is possible to re-invest in creating more realistic conditions in modeling the problem. The company can invest the proceeds from other projects upon completion of the project. Since projects often have many uncertainties, proper selection of managers has always been at high risk. In this research, the modeling of the related problem is tried to consider mentioned uncertainty in the amount of income and expenditure of the project and try to determine the level of risk involved in selecting projects at the approved level from the management side until the risk of falling revenues was controlled. Then a case study of Exir Sanat Company is presented.

Keywords:

Project interrelationship , Project portfolio selection and scheduling , Reinvestment strategy , Time-dependent budget , Time value of capital , Risk & uncertainty