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In decision analysis, difficulties of obtaining complete information about model parameters make it advisable to seek robust solutions that perform reasonably well across the full range of feasible parameter values. In this paper, we develop the Robust Portfolio Modeling (RPM) methodology which extends Preference Programming methods into portfolio problems(More)
supports project portfolio selection in the presence of multiple evaluation criteria and incomplete information. In this paper, we extend RPM to account for project interdependencies, incomplete cost information and variable budget levels. These extensions lead to a multi-objective zero-one linear programming problem with interval-valued objective function(More)
In this paper, we report a prospective evaluation process for a major research program for the Finnish forestry and forest industries. To a significant extent, this process was based on fifteen participatory workshops where tools of operational research F most notably multi-criteria methods embedded in a group support system F were deployed to help(More)
Project portfolios for the annual maintenance of infrastructure assets may contain dozens of projects which are selected out of hundreds of candidate projects. When selecting these projects, it is necessary to account for multiple evaluation criteria, project interdependencies, and uncertainties about project performance as well as financial and other(More)
In this paper, we report a prospective evaluation process for a major research programme for the Finnish forestry and forest industries. To a significant extent, this process was based on fifteen participatory workshops where multicriteria methods and a group support system were deployed to help representatives from industry, research community and public(More)
Foreword From 1997 onwards, the Finnish Government decided to allocate additional funding to research and development and launch a new type of programmes, cluster programmes. The Finnish Forest Cluster Programme (Wood Wisdom) is one of these eight cluster programmes. The aim of the cluster programmes is to generate new knowledge and services by breaking the(More)
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