Matching Items (4)

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Towards More Intuitive Frameworks For The Project Portfolio Selection Problem

Description

Project portfolio selection (PPS) is a significant problem faced by most organizations. How to best select the many innovative ideas that a company has developed to deploy in a proper

Project portfolio selection (PPS) is a significant problem faced by most organizations. How to best select the many innovative ideas that a company has developed to deploy in a proper and sustained manner with a balanced allocation of its resources over multiple time periods is one of vital importance to a company's goals. This dissertation details the steps involved in deploying a more intuitive portfolio selection framework that facilitates bringing analysts and management to a consensus on ongoing company efforts and buy into final decisions. A binary integer programming selection model that constructs an efficient frontier allows the evaluation of portfolios on many different criteria and allows decision makers (DM) to bring their experience and insight to the table when making a decision is discussed. A binary fractional integer program provides additional choices by optimizing portfolios on cost-benefit ratios over multiple time periods is also presented. By combining this framework with an `elimination by aspects' model of decision making, DMs evaluate portfolios on various objectives and ensure the selection of a portfolio most in line with their goals. By presenting a modeling framework to easily model a large number of project inter-dependencies and an evolutionary algorithm that is intelligently guided in the search for attractive portfolios by a beam search heuristic, practitioners are given a ready recipe to solve big problem instances to generate attractive project portfolios for their organizations. Finally, this dissertation attempts to address the problem of risk and uncertainty in project portfolio selection. After exploring the selection of portfolios based on trade-offs between a primary benefit and a primary cost, the third important dimension of uncertainty of outcome and the risk a decision maker is willing to take on in their quest to select the best portfolio for their organization is examined.

Contributors

Agent

Created

Date Created
  • 2018

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Expanding data mining theory for industrial applications

Description

The field of Data Mining is widely recognized and accepted for its applications in many business problems to guide decision-making processes based on data. However, in recent times, the scope

The field of Data Mining is widely recognized and accepted for its applications in many business problems to guide decision-making processes based on data. However, in recent times, the scope of these problems has swollen and the methods are under scrutiny for applicability and relevance to real-world circumstances. At the crossroads of innovation and standards, it is important to examine and understand whether the current theoretical methods for industrial applications (which include KDD, SEMMA and CRISP-DM) encompass all possible scenarios that could arise in practical situations. Do the methods require changes or enhancements? As part of the thesis I study the current methods and delineate the ideas of these methods and illuminate their shortcomings which posed challenges during practical implementation. Based on the experiments conducted and the research carried out, I propose an approach which illustrates the business problems with higher accuracy and provides a broader view of the process. It is then applied to different case studies highlighting the different aspects to this approach.

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Created

Date Created
  • 2012

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Industrial applications of data mining: engineering effort forecasting based on mining and analysis of patterns in historical project execution data

Description

Data mining is increasing in importance in solving a variety of industry problems. Our initiative involves the estimation of resource requirements by skill set for future projects by mining and

Data mining is increasing in importance in solving a variety of industry problems. Our initiative involves the estimation of resource requirements by skill set for future projects by mining and analyzing actual resource consumption data from past projects in the semiconductor industry. To achieve this goal we face difficulties like data with relevant consumption information but stored in different format and insufficient data about project attributes to interpret consumption data. Our first goal is to clean the historical data and organize it into meaningful structures for analysis. Once the preprocessing on data is completed, different data mining techniques like clustering is applied to find projects which involve resources of similar skillsets and which involve similar complexities and size. This results in "resource utilization templates" for groups of related projects from a resource consumption perspective. Then project characteristics are identified which generate this diversity in headcounts and skillsets. These characteristics are not currently contained in the data base and are elicited from the managers of historical projects. This represents an opportunity to improve the usefulness of the data collection system for the future. The ultimate goal is to match the product technical features with the resource requirement for projects in the past as a model to forecast resource requirements by skill set for future projects. The forecasting model is developed using linear regression with cross validation of the training data as the past project execution are relatively few in number. Acceptable levels of forecast accuracy are achieved relative to human experts' results and the tool is applied to forecast some future projects' resource demand.

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Agent

Created

Date Created
  • 2013

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A Data Mining Approach to Modeling Customer Preference: A Case Study of Intel Corporation

Description

Understanding customer preference is crucial for new product planning and marketing decisions. This thesis explores how historical data can be leveraged to understand and predict customer preference. This thesis presents

Understanding customer preference is crucial for new product planning and marketing decisions. This thesis explores how historical data can be leveraged to understand and predict customer preference. This thesis presents a decision support framework that provides a holistic view on customer preference by following a two-phase procedure. Phase-1 uses cluster analysis to create product profiles based on which customer profiles are derived. Phase-2 then delves deep into each of the customer profiles and investigates causality behind their preference using Bayesian networks. This thesis illustrates the working of the framework using the case of Intel Corporation, world’s largest semiconductor manufacturing company.

Contributors

Agent

Created

Date Created
  • 2017