Balancing construction projects by considering resilience factors in crisis

Document Type : Research Paper

Authors

1 School of Industrial Engineering, College of Engineering, University of Tehran, Tehran, Iran

2 Department of Industrial Engineering, Shahed University, Tehran, Iran

Abstract

Macroeconomic investment at the corporate level has grown rapidly in recent years. Given that the resources of the organization are usually less than the number of projects ahead in the organization, selecting projects from a portfolio of projects and making decisions in this regard is inevitable in the organization. Choosing the wrong one will have many negative consequences, including wasting resources in the organization. It also destroys resources within the organization that, if used correctly in a more appropriate project, will have benefits for the organization. In recent years, due to some problems, the country's economic markets have fluctuated. These fluctuations are largely unpredictable in nature, which have a significant negative impact on economic and investment organizations. Given this need, the current research is attempting to provide a solution to best balance project portfolio in uncertain terms. Therefore, this paper has proposed a model for project balancing under uncertainty conditions considering resilience factors in crisis, as stated, to prevent some projects from continuing if necessary. 4 scenarios are defined and a stochastic programming is implemented. So far, the concept of project portfolio balancing and modeling has rarely been addressed. Most of the time, a financial portfolio is presented and a balancing model is provided for it, especially in the field of equity, or generally, taking into account indicators such as risk, prioritizing projects and providing a conceptual model to apply.

Keywords

References

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History

  • Receive Date: 25 August 2019
  • Revise Date: 22 September 2019
  • Accept Date: 29 September 2019

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