A comprehensive framework for sustainable project portfolio selection based on structural equation modeling
Project selection problems are inherently complex problems with multiple and often conflicting objectives. The complexity of project selection problems is due to the high number of projects from which a subset (portfolio) has to be chosen. Various analytical methods, ranging from the simple weighted sum to complex mathematical programming have been proposed to solving these problems. We propose an integrated approach for strategic and sustainable project portfolio selection, which is composed of two distinct but interrelated modules. In the first module, we use the strategic planning and sustainablilty concepts to select a set of promising projects. In the second module, we use a project portfolio selection procedure to choose among the promising projects identified in the first module.