project portfolio optimization considering project interactions using teaching-learning optimization alghorithm

Document Type : Research Paper

Authors

1 Assistant Prof., Faculty of Industrial Engineering and Management, Shahrood University, Shahrood, Iran

2 MSc,MBA, Shahrood University, Shahrood, Iran

Abstract

: Nowadays, organizations are faced with a multitude of project and investment opportunities. Despite the importance of various criteria, complexity of multi-objective models and weakness of optimization algorithms often compelled manager to limit the selection criteria or only suffice to financial objects. In this paper, it is endeavored to extend selection criteria by using an efficient optimization algorithm based on teaching-learning process, which makes it possible to solve the proposed 0-1 multi-objective programing model. Finally efficiency of the applied algorithm called TLBO is compared with PSO and GA by applying the proposed model in a project oriented organization. It was shown that TLBO is better than GA and PSO algorithm technique, which was used before in such problems.

Keywords

References

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Industrial Management Journal
Volume 7, Issue 3
October 2015
Pages 511-532

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