A Decision Support System for Project Portfolio Management in Construction Companies

Bilgin G., Dikmen I., BİRGÖNÜL M. T., ÖZORHON ORAKÇAL B.

INTERNATIONAL JOURNAL OF INFORMATION TECHNOLOGY & DECISION MAKING, cilt.22, sa.2, ss.705-735, 2023 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 22 Sayı: 2
  • Basım Tarihi: 2023
  • Doi Numarası: 10.1142/s0219622022500821
  • Dergi Adı: INTERNATIONAL JOURNAL OF INFORMATION TECHNOLOGY & DECISION MAKING
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Aerospace Database, Applied Science & Technology Source, Business Source Elite, Business Source Premier, Communication Abstracts, Computer & Applied Sciences, INSPEC, Metadex, zbMATH, Civil Engineering Abstracts
  • Sayfa Sayıları: ss.705-735
  • Anahtar Kelimeler: Construction management, decision support systems, project portfolio management, risk management, SELECTION, INTERDEPENDENCIES, SUCCESS, MODEL, KNOWLEDGE, TOOL
  • Orta Doğu Teknik Üniversitesi Adresli: Evet

Özet

Project portfolio management requires a systematic process that comprises assessment of portfolio risk and expected profitability, as well as strategic fit of individual projects with company objectives. After a needs analysis based on literature findings and surveys with experts, in this study, a process model and a tool, COPPMAN (COnstruction Project Portfolio MANagement), were developed to support project portfolio decisions in construction companies. COPPMAN was developed in collaboration with construction professionals. Different from previous studies, it incorporates a portfolio risk and strategic fit assessment model considering project dependencies and integrates knowledge of previous, on-going and potential projects to estimate value of alternative project portfolios. COPPMAN was implemented in a construction company and evaluated as a useful tool due to its features such as knowledge integration, forecasting of portfolio profitability and recommendation of strategies as well as its visualization features. Research design and findings can be used for development of similar tools in other project-based industries.