Three step procedure for a multiple criteria problem of project portfolio scheduling

The purpose of this paper is to present the project portfolio scheduling problem as a multiple criteria decision making problem. A three step procedure to solve this problem will be presented in this paper. In the first step, the problem will be described by a multiple criteria mathematical model. Three criteria will be considered: minimizing the sum of penalties for projects delays, minimization of resource overuse and NPV maximization. In the second step: non-dominated solutions will be identified by using an elitist evolutionary algorithm for multiple optimization. In the third step an interactive procedure will be applied to choose the final solution. An example of a portfolio of IT projects will be used for computations.