Advanced Approaches for Solving Portfolio of Projects Under Uncertain Environments
In this research work, different advanced approaches need to be proposed to solve portfolio of projects (PoP) under uncertain conditions. Considering practical aspect in any typical project setting, both activity durations and resource availabilities can be considered as uncertain and will be assumed to follow any certain probabilistic distribution. Under those uncertain environments, Robust Optimization approach and Possibilistic approach can be considered to tackle those kinds of uncertainties. Later, either Fuzzy Delphi or Fuzzy TOPSIS or Fuzzy AHP approach or may be the combination of all three approaches can also be considered to handle those uncertain parameters. New benchmark instances will be proposed and developed later according to the updated uncertain values generated from all upper mentioned approaches. Finally, all those newly developed instances should be solved by using any advanced optimisation algorithm.
Another branch of this proposal could extends to solve PoPs by using Chance Constraints approach and Two-stage Stochastic Programming approach, while they also need to solved by using heuristic/meta-heuristic approach (es).
- Application of Possibilistic approach along with different Fuzzy techniques in project scheduling problems.
- Considering practical uncertainties and their impreciseness, probability theory-based approaches are inappropriate to deal with real world project scheduling problems.
- An uncertain model based on chance-constrained programming instead of expected value model should proposed to minimize project makespan with some belief degree, which is applicable to the risk-averse decision-maker who wants to realize the project schedule with a pretty high belief degree.
- Another two-stage stochastic programming formulations are also need to propose to model problems where uncertainty is revealed sequentially
Contact Dr. Ripon Chakrabortty for further information. Each potential student need to write a research proposal highlighting research motivation, research problems, research objectives, brief review of the most relevant literature, proposed methodology and expected outcome. For further communication e-mail me: