Selecting a portfolio of nonhomogeneous R \& D proposals
type: Item
instance of: scholarly article
title: Selecting a portfolio of nonhomogeneous R \& D proposals
zbMATH Open document ID: 0569.90053
DOI: 10.1016/0377-2217(85)90155-9
author: Kamal Golabi
published in: European Journal of Operational Research
publication date: 1985-01-01T00:00:00Z
review text: This article reports a procedure developed to assist the U.S. Department of Energy in the selection of a portfolio of proposals addressing the design and manufacture of components of solar photovoltaic arrays, and complete photovoltaic systems. Considerations such as the relative importance of the different components in the overall effort, compatibility of the proposed designs, and budgetary and programmatic issues were complicating factors. The technical quality for each proposal was represented by multiple evaluation measures. These were combined into a single index through the use of a multiattribute utility function. Indices representing the relative importance of the various components were then developed, and results in measurable value theory were applied to derive an index of technical quality of a portfolio of proposals. The problem was then formulated as an integer program. It was solved by using an interactive branch and bound code that allowed for sensitivity analysis before selecting the portfolio of proposals for funding. The procedure was successfully applied to funding a portfolio of proposals aimed at reducing the cost of producing photovoltaic arrays, and to several other government-sponsored procurements.
Mathematics Subject Classification ID: 90B50
Mathematics Subject Classification ID: 90C10
Mathematics Subject Classification ID: 65K05
zbMATH DE Number: 3910127
zbMATH Keywords: resource allocation
zbMATH Keywords: government
zbMATH Keywords: selection of a portfolio
zbMATH Keywords: multiattribute utility function
zbMATH Keywords: interactive branch and bound code
MaRDI profile type: Publication
full work available at URL: 0377-2217(85)90155-9
OpenAlex ID: W1982594260
cites work: Measurable Multiattribute Value Functions
cites work: Pyramid and Semicube Decompositions of Multiattribute Utility Functions
cites work: Q4180077
cites work: Parametrically Dependent Preferences for Multiattributed Consequences
cites work: Q5639713
cites work: Evaluating Proposals Using Decision Analysis
description: scientific article; zbMATH DE number 3910127