- Time: 14:00-15:00
- Location: Online
- Speaker: Maria Barbati, University of Portsmouth
Multiobjective Optimization Problems are formulated and solved with the aim to support stakeholders in determining a solution that best fits their preferences when several and conflicting objectives need to be optimized. The portfolio decision analysis deals with the selection of a set of projects according to one or more objectives to optimize and with some constraints to take into account. When more objectives are optimized, such as environmental objectives together with economic objectives, multiobjective portfolio problems can be formulated. In the current economic context, the scarcity of financial resources, especially from public authorities, together with the duty to meet challenging strategic objectives, implies an even more considerable effort to decide which projects are the best to select and in which period they should be planned. Therefore, portfolio approaches become needful.
We consider the problem of defining a plan consisting in selecting a set of projects considering also the location where they have to be assigned and the time in which they have to be activated. The projects are evaluated with respect to a set of criteria. The plan has to be devised respecting some constraints related to different aspects of the problem such as precedence restrictions due to the nature of the projects. Among the constraints there are some related to the available budget. We consider the uncertainty related to the performances of the projects with respect to considered criteria, and the plurality of stakeholders participating to the decision. We discuss how such a model permits to handle complex problems using several methodologies including multiple attribute value theory and multiobjective optimization.
Dr Maria Barbati is a senior lecturer in the Operations and Systems Management Group at the University of Portsmouth. Maria graduated in Management Engineering for the Logistic and the Production at the University of Naples “Federico II” and received her Master in Management Engineering at the same institution. She completed her PhD studies in facility location problems with equality considerations. She is a member and the Southern Representative of the OR Society Council. Her research is in the area of multicriteria decision aiding and combinatorial optimization problems with a focus on facility location models and portfolio selection problems.